THE FULL REPORT IS AVAILABLE FOR DOWNLOAD HERE: http://netfinanceint.wbresearch.com/the-journey-to-digital-maturity-mc MORE INFO ON THIS REPORT: The present study evaluates the digital maturity of financial services companies, assessing the obstacles that are inhibiting their digital development, as well as the solutions and capabilities that are enabling it. The study also evaluates how financial institutions are impacting the customer experience and how they are leveraging mobile. Although the majority of financial institutions surveyed indicated that they are investing in their digital capabilities, only 3% of respondents believed that they have reached full digital maturity. This underlines the fact that digital maturity is a fluid process that often involves the transformation of organizational structures and technology platforms. This study reflects data gathered at NetFinance 2014, the premier digital conference for financial services. Visit www.netfinanceinteractive.com or www.netfinanceus.com for more info!

1. A WBR Digital Industry Benchmark Whitepaper
Presented in Conjuction with Adobe
The Journey to Digital Maturity:
How Financial Institutions Are
Leveraging the New Age of
Digital Solutions
June 2014

2. 22014 The Journey to Digital Maturity
Table of Contents
The expansion and evolution of the digital world has had a profound impact on the
way people bank, narrowing the gap between consumers and financial institutions
in ways never before possible. In an age where you can transfer your rent with the
click of a mouse and instantaneously deposit a check by simply taking a picture,
banking branches are becoming obsolete. In this brave new world of omnichannel
banking, touch points have multiplied, marketing channels have become more
diffuse, and the analytics required for campaign tracking have become highly
complex. With consumers increasingly controlling how, when, and where they
connect with their banks, financial institutions are working to uncover new
opportunities to improve their omnichannel capabilities and enhance the customer
experience. In other words, digital banking has become a top priority.
Financial services companies are adapting to this paradigm by adopting powerful
new digital solutions. Tools for customer relationship management, media listening,
marketing automation, and analytics have become essential to financial institutions
living in an omnichannel world. When embedded into business goals and processes,
these solutions form the core of a company’s digital maturity.
Despite the proliferation of these dynamic digital tools, many financial services
companies lack the structures and strategies to drive their businesses’ digital
maturation. In fact, this report will show that organizational alignment is just as
important to a company’s digital development. Furthermore, many marketers are
struggling to engage customers and prospects in more relevant channels like mobile
and authenticated sites, thereby missing high-quality opportunities.
The present study evaluates the digital maturity of financial services companies,
assessing the obstacles that are inhibiting their digital development, as well as the
solutions and capabilities that are enabling it. The study also evaluates how financial
institutions are impacting the customer experience and how they are leveraging
mobile. Although the majority of financial institutions surveyed indicated that they
are investing in their digital capabilities, only 3% of respondents believed that they
have reached full digital maturity. This underlines the fact that digital maturity is a
fluid process that often involves the transformation of organizational structures and
technology platforms. This study reflects data gathered at NetFinance 2014, the
premier digital conference for financial services.
Executive Summary...............2
Key Findings.........................3
Research Findings
The Journey to
Digital Maturity.................4
Influencing the
Customer Experience.........7
The Next Generation
of Technologies
and Solutions....................9
Digital Payments &
the Future of the
Mobile Wallet..................12
Conclusions &
Recommendations..............14
Appendices.........................15
About NetFinance...............15
About Adobe......................16
About WBR/WBR Digital.....16
Register for Next Year’s
NetFinance Conference.......17
Executive Summary

3. 2014 The Journey to Digital Maturity 3
3 Financial services are lagging in their pursuit of
digital maturity, with 85% saying that they are
halfway there or further behind.
Reaching digital maturity takes more than just powerful new technologies. In
fact, 43% of respondents indicated that organizational alignment or executive
sponsorship are the most important factors to their advancement toward
digital maturity.
3 The digital maturation of many financial
institutions is being impeded by the competition
for IT resources and fragmented data sources.
65% of respondents agreed that heavy reliance on IT resources is the main
challenge inhibiting their companies’ digital maturation. Fragmented data
sources and compliance requirements were also common obstacles.
3 Many financial services companies are missing
out on significant opportunities for conversion
and engagement in the mobile space.
Marketers have enhanced their ability to target, analyze, and convert public
site traffic. But with web site traffic moving rapidly to mobile, very few
institutions have succeeded in extending their core capabilities to mobile
applications and mobile sites. Case in point, only 38% of survey respondents
are leveraging analytics on their mobile sites, while a mere 25% are applying
analytics to their mobile apps.
3 Technology plays a critical role in digital
marketing. However, the proliferation of
solutions providers has made finding and
implementing the proper capabilities more
important than ever.
Faced with an abundance of choice, many companies are choosing to buy
digital marketing solutions or build them in partnership with a 3rd-party,
rather than build the solution in-house. Financial institutions are prioritizing
cross-channel campaign management and responsive design in the short
run, although 43% of respondents already describe their digital marketing
programs as excellent.
3 Although the mobile wallet presents a
tremendous opportunity to better serve
consumers, most financial institutions are not
yet comfortable with the technology.
As a result, the majority of financial services companies only offer bill payment.
While many companies agree that a clear leading technology and improved
retailer support are necessary to make mobile wallet offerings more feasible,
82% believe that there is enough consumer interest to justify these investments.
Key Findings

4. 42014 The Journey to Digital Maturity
0
10
20
30
40
50
60
The Journey To Digital Maturity
Financial institutions are lagging behind in
their pursuit of digital maturity
1% Haven’t left the gate
31% Just getting started
53% Halfway there
of respondents
are halfway to
digital maturity
85%
of respondents
are halfway to
digital maturity,
or further behind.
“[I’m] surprised to see half of respondents say they are
halfway there since the space changes weekly/monthly in
terms of new ways to interact and engage with customers
through digital (even what we mean when we say digital
changes so frequently).”
- Brad Leimer, VP Digital Strategy Mechanics Bank
Where is your company in its journey to digital maturity?
12% We can see the finish line
3% We are at our end stage

5. :
2014 The Journey to Digital Maturity
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