- Perspectives
- Articles
TCS 2021 Global Leadership Study
2 MINS READ
Discover TCS
Highlights
- How are financial institutions planning to use technology to compete between now and 2025 in an increasingly digital world?
- To what extent will they innovate versus optimize in such areas as how they compete, what they offer, how they create demand, and how they lead employees?
- Will they enter new markets outside traditional industry boundaries, and are they concerned about competition arising from unconventional places?
To address these and related questions, in 2021 Tata Consultancy Services surveyed more than 1,200 global companies with an estimated average revenue of $14.6 billion across 17 industry sectors. The sample included banking and credit institutions; and securities and investment banking firms, 37% from the UK and Europe, 23% from North America, 22% from Asia-Pacific and 18% from Latin America.
Insights in this article
Banking and Financial Leaders
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.
Essential takeaway
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.
- Financial institutions are catching on to the need to strategize through the lens of digital ecosystems rather than relying only on traditional industry boundaries. Both retail banks and investment banking firms are more likely than companies in other sectors to plan through the lens of cross-industry digital ecosystems.
Contact us
Contact us
What’s on your mind?
We’re here to help! Tell us what you’re looking for and we’ll get you connected to the right people.
Looking for something else?
