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The TCS 2021 Global Leadership Study also compared the strategies of two subsets of financial services firms: “Leaders,” which had both superior revenue and profit growth from 2015 to 2019, compared to other companies in their industries, and “Followers,” which reported inferior financial performance during that time. The logic: The second half of the 2010s was a highly digital era, and companies with the best financial performance did many things right, so they are the ones to learn from, especially when compared to those with the worst financial performance.
Only 45% of banking and credit institutions and 40% of securities and investment banking firms are limiting their strategic outlooks to traditional industry boundaries. This compares to 55% of all respondents to the 2021 survey.