Top 7 Reasons Why Financial Companies Fail at Digital Transformation

According to Statista, global investments in digital transformation reached $1.18 trillion in 2019 and $1.31 trillion in 2020. However, a significant percentage of these investments does not pay off. 

The BCG survey results make for an interesting read: only 30% of companies succeeded in digital development. The remaining 70% of companies failed at digital transformation and received almost no return on their investments.

But, what are the reasons for these failures and, more importantly, how can they be avoided? And why does a single platform, such as loan management software, play an essential role in the effective digitization of financial organizations?

Sergei Artimenia

Director of Business Development

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