In this report, Celent has shown that there are routes to leverage legacy and be digital, to make the big, slow elephant dance. A pragmatic approach is possible and can benefit from the automation and speed seen in new digital systems.

Much of the focus on digital transformation in financial services is on customer-facing, external channels when in fact, substantive transformation opportunities lie across front, middle, and back offices. To serve fast-moving customers with changing expectations, financial institutions must achieve a new level of agility and automation.