A digital maturity gap is emerging between so-called ‘leaders’ and ‘non-leaders’, according to a study undertaken by fintech Broadridge.
The 2024 Digital Transformation and Next-Gen Tech Study interviewed 500 buy and sell-side executives on their technology strategy and ranked them accordingly based on the advancement of these strategies.
It found that three-quarters (75%) are confident in their tech transformation roadmaps.
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However, the report also found areas where all firms are struggling to make the necessary investment.
For example, just 28% of firms have reached an advanced stage in their digital skills strategies, a 4% year-on-year increase.
One trend common across all the respondents is an increased focus on cyber security.
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Over the next two years, financial institutions plan to boost their investments in cybersecurity by 28% on average.
In addition, the study found that cyber security is the top capability expected from tech vendors, more so than the ability to deliver projects on time and on budget.
