Modernizing technology for business impact
Insights from banking leaders on optimizing tech strategy
As technology evolves, banks realize they must align modernization efforts with strategic goals to optimize value from their tech investments. But which investments drive value? And how do you measure return on them? Explore four strategies leading US banking executives are deploying to help their investments drive innovation and sustain a competitive edge.
Strategies to optimize tech investment value for banks
A group of 25 technology leaders from leading US banks, including JPMorgan Chase and Citi, that are part of the Wall Street Technology Association (WSTA), came together for a roundtable discussion to share effective strategies on how to navigate complex transformation environments. The goal was to gain insight into how they’re measuring and increasing the value of their tech investments. Though each bank is navigating its own transformation path, the panel found consensus on four key imperatives to help optimize value:
- Secure business leader buy-in: Align tech and business incentives to increase impact.
- Measure what drives value: Focus on technologies that create business value to optimize investment ROI. More than 80% of banking organizations in a recent Deloitte survey were investing in mobile, cloud, and analytics technologies.1
- Drive efficiency and strengthen teams: Adopt centralized platforms to scale and standardize.
- Power growth with strategic investments: Explore new technologies for innovation, but balance compliance and productivity. In a 2024 Deloitte survey report, 86% of financial services sector respondents were investing in AI, with 62% investing in GenAI specifically—and 77% of those thought they were gaining value from those investments.2
Footnotes
1Tim Smith et al., Mapping digital transformation value: The metrics that matter, Deloitte, 2024.
2Tim Smith et al., “Focusing on the foundation: How digital transformation investments have changed in 2024,” Deloitte, October 14, 2024.
