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1、KPMG global tech report:Financial services insightsKPMG International|KPMG.Make the Difference.Unlocking growth through digital innovation Simplification and modernization12About the authors16How KPMG can help1503Executive summary04Key findingsRisk and regulation0508Data and AIMethodology17Contents2

2、KPMG global tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Executive summaryPersistently high inflation,geopolitical pressures,regulatory challenges,and slow

3、 global economic growth are combining to challenge businesses across financial services.Interest rate volatility is dampening consumer spend and asset performance,while compliance and operational costs are steadily increasing,forcing executives to revisit growth strategies.At the same time,organizat

4、ions across financial services are coming under pressure both to generate value and to operate within tighter margins.Technology is proving vital for performing in this environment.TheKPMG 2024 CEO Outlook across asset management,banking and insurance confirms that CEOs in these industries are conti

5、nuing to prioritize digitization to galvanize business models.Despite ongoing economic uncertainty,81 percent of banking and insurance CEOs see generative AI as a top investment priority,with 75 percent of CEOs confirming this in the asset management sector.Organizations are leaning on innovative pl

6、atforms and systems to help them reduce costs,improve customer experiences,and build resilience.Our new KPMG research,which features insights from 612technology executives from financial services(including professionals working in asset management,banking and capital markets,insurance,private equity

7、,and real estate),further highlights the potential of technology to bolster the sector.As financial services organizations contend with evolving risks and demands in a cost-pressured environment,companies with a competitive edge in the sector are those who can deploy digital transformation tactics t

8、o bring enterprise-wide value.But are financial services firms ready to unlock unprecedented growth through digital innovation?As the sector faces mounting pressures,the answer to this question could determine their future success.This report is intended for CEOs,CIOs,CTOs,and senior executives in t

9、he financial services sector who are looking to harness technology to help fuel operational efficiency and growth.This report reveals that the financial services sector is most likely to generate profit from its AI investments.However,to stay ahead of the game,financial services companies should mov

10、e beyond siloed,short-sighted tactics.This will likely involve adopting multiple advanced technologies,in addition to addressing legacy solutions,to ensure enterprise-wide compatibility.A simplified,modernized architecture that reduces complexity and transforms the end-to-end customer experience sho

11、uld be the goal.Karim Haji Global Head of Financial Services KPMG International KPMG global tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.3Key findingsRisk

12、and regulationData and AISimplification and modernizationAbout the authorsMethodologyHow KPMG can helpExecutive summaryKey findings75%92%58%The sectors inherent exposure to elevated risk and regulatory challenges has driven a need for innovation to manage these demands.As a result,financial services

13、 is the sector most likely to be generating profit from its Cybersecurity,XaaS and AI investments.But while this has brought progress,the evolving risks and responsibilities continue to weigh heavily on tech decision-makers inthe sector.The rise of generative AI(Gen AI)is set to revolutionize financ

14、ial services,enabling companies to automate complex tasks and enhance customer experiences in unprecedented ways.Financial services is the sector most likely to generate profit from its AI investments.But many organizations still encounter problems when trying to implement AI across the business in

15、an integrated way.Our research uncovers key actions that digital leaders are taking to help realize benefits at scale taking an ecosystem approach with use cases drawing on multiple AI capability sets,pushing the envelope by seeking to radically change end-to-end value chains(compared with increment

16、al improvements),and investing in digital and data foundations.Financial services companies are increasingly looking to modernizetheir systems to improve resilience and remove unnecessary complexity.These modernization efforts are essential tobusiness continuity.Managing risk with innovation and art

17、ificial intelligence To deliver on the promise of data and AI,companies must scale with purposeSimplification and modernization:Moving toward an adaptable,flexible architectureof financial services executives state that complex regulatory developments are the factor most heavily denting their invest

18、ment confidence.of financial services companies are generating profits from AI.However,only 32%of FS companies are generating returns at scale.of executives admit that flaws in their foundational enterprise IT systems disrupt business-as-usual on a weekly basis.The survey finds that data-led decisio

19、n-making,AI-enabled solutions and modernization of legacy platforms are at the center of the sectors coping strategies.Organizations in the financial services sector are most likely to be using data-centric decision-making to adapt their digital transformation in response to evolving market risks,5

20、percentage points more likely than the cross-sector average.With the right data foundations in place,AI provides a means a accelerate the modernization of the control environment,predict change impacts and minimize drift.Across the sector,there has been an uptick in the implementation ofcloud-based

21、platforms that can help simplify digital infrastructures,withan impressive 82 percent of organizations prioritizing investment in XaaS in 2024.One of the core benefits of this simplification is cost reduction.Nearly one-third of respondents say that public cloud platforms or XaaS technologies have h

22、elped to reduce the cost of both technology debt and total cost of ownership(TCO).4KPMG global tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Risk and regula

23、tionData and AISimplification and modernizationExecutive summaryAbout the authorsMethodologyHow KPMG can helpKey findingsIn a mission to build consumer trust,organizations across financial services face strong headwinds.Geopolitical tensions are disrupting every sector,impacting supply chains and fi

24、nancial systems,limiting access to capital,pushing up the prices of goods and commodities,and,ultimately,impacting economic stability.Technological advancements and greater regulatory burdens are also creating new uncertainties,leading to a fragile reputational risk environment.As fast as financial

25、services companies are adapting,bad actors are weaponizing technologies with the aim of manipulating people,businesses and governments,and eroding trust.As a result,financial services companies are less confident in investing in new technology than a year ago,with the KPMG 2024 Banking CEO Outlook1

26、revealing that only 43 percent of respondents are confidentthat their organizations cyber security defenses can keep up with the challenges thrown up by advancements in AI.Technical debt that has built up through years of underinvestment in core systems is worsening the situation,with many financial

27、 services executives(58percent)in the KPMG Global Tech Report research saying that flaws in their foundational enterprise IT systems disrupt business-as-usual on a weekly basis.Risk and regulation1 https:/ global tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG

28、 International entities.KPMG International entities provide no services to clients.All rights reserved.Key findingsData and AISimplification and modernizationExecutive summaryAbout the authorsMethodologyHow KPMG can helpRisk and regulationTo protect citizens and vulnerable members of the community,a

29、nd ensure the continued functioning of capital markets,regulators are responding by expanding legislation,intensifying the legal burden on the financial services sector.Some of the most significant new pieces of legislation include the Cyber Resilience Act(CRA),the Digital Operational Resilience Act

30、(DORA),and the EU AI Act.However,inadequate and divergent approaches to the regulation of emerging technologies,in particular artificial intelligence(AI),is seen by many organizations as a barrier.This is evident in recent research by KPMG,which identifies that 70 percent of insurance CEOs believe t

31、hat the lack of current AI regulation within the sector could become a barrier to the organizations success.2 Published in December 2023,ISO/IEC 42001 is the first international standard that provides a framework with which to manage AI.The standard addresses the unique challenges AI poses,such as t

32、he need for ethical considerations,transparency,and continuous learning.For financial services organizations,it sets out a structured way to manage risks and opportunities associated with AI,balancing innovation with governance.Importantly,implementation of the standard can help companies build trus

33、t with their stakeholders,providing an opportunity to differentiate.While these standards offer valuable guidance,the evolving risk environment and growing compliance requirements are still daunting for financial services companies.of financial services executives state that complex regulatory devel

34、opments are the factor that most affects their investment confidence(7percentage points higher than the cross-sector average).75%Deciphering and managing the regulatory maze,and closing the gap in risk management and compliance,requires high levels of intelligence and efficiency.The speed of technol

35、ogy innovation is creating new opportunities to tackle these issues through more modular,flexible architectures,artificial intelligence,and data,supported by partnerships with trusted organizations across the private and public sector ecosystem.David Ryan Head of Technology for Financial Services KP

36、MG Australia KPMG has a unique point of view and experience with ISO 42001,with KPMG Australia being the first organization globally to achieve ISO 42001(AI)certification from theBritish Standards Institute(BSI).From analyzing the tactics of digital leaders in this space,it is evident that many lead

37、ing organizations navigate this complexity by developing digital transformation strategies that balance addressing immediate needs with planning for predicted future requirements.In terms of knowing how to strike the right balance and adjust it in response to evolving market trends and risks,data-ce

38、ntric decision-making is a crucial tool for high performing organizations.The KPMG2024 Global Tech Report shows that,across sectors,in comparison with non-leaders,global leaders are 18 percentage points more likely to use data-centric decision-making to align their digital transformation strategies

39、with evolving market trends and risks.When it comes to data-informed decision-making,financial services is already making confident strides forward.Our research shows that,when responding to evolving risk and trends,financial services companies are 5 percentage points more likely than other sectors

40、to take a data-led approach.However,the sector cannot rest on its laurels;it is imperative that it continues to build its data maturity.2 https:/ global tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide

41、no services to clients.All rights reserved.Key findingsData and AISimplification and modernizationExecutive summaryAbout the authorsMethodologyHow KPMG can helpRisk and regulationDrawing on our experience working with digital leaders in highly regulated sectors,we suggest the following actions are c

42、ritical:Baseline Develop an understanding of current and future risks,regulatory obligations,and critical operations and controls at an organizational level.Consider how technologies and solution options are evolving that could have an impact on your strategy and decisions taken in the short term.Pr

43、ioritize those areas most critical to resolve now while forming a position on future scenarios.Manage Build and implement a robust risk management framework,incorporating certifications such as ISO 42001,to hone best practice and strengthen controls.Explore how AI can be leveraged to accelerate the

44、modernization of your controls,predict the impact of control changes to your processes and systems,and sustain them in a rapidly evolving and uncertain environment.Implement Prepare a vision and strategy that consider the evolving risk and technologies environment,immediate priorities and future sce

45、narios that could play out.Evaluate architectural options,with a view towards a cloud-based composable architecture that can adapt to future changes,leveraging XaaS solutions to accelerate and de-risk,enabled by AI and data.Prepare Design and mobilize the program teams needed to uplift your control

46、environment,leveraging third party providers that bring grounded advice and global experience.Establish the delivery cadence and governance needed to surface and resolve design and delivery issues as they arise.Design and prepare the business-as-usual operating model to sustain the control environme

47、nt and avoid drift.Financial services is more likely than other sectors to take a data-centric approach to responding to market risks with agility Which of the following tactics do you use to adapt your digital transformation strategy in response to evolving market trends and risks?Compliance powere

48、d by AIKPMG Australias platform,Compliance powered by AI,demonstrates how AI technology,when combined with a well-defined strategy,can be leveraged to:Turn dense regulations into a clear set of obligations,making compliance easier to understand and act upon.Examine processes and detect the fine thre

49、ads between obligations and risks,and strengthens these connections.Rapidly grasp an ever-evolving inventory of controls evaluated by AI against industry-leading practices.Powered by the advanced capabilities of a generative AI platform,the solution is designed to decipher and manage the regulatory

50、maze with unparalleled intelligence and efficiency.It synthesizes and scrutinizes data,uncovering vital connections and identifying any discrepancies against a robust set of frameworks and controls.Data-centric decision makingFinancial services50%Cross-sector average45%KPMG global tech report:Financ

51、ial services insights7 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Key findingsData and AISimplification and modernizationExecutive summaryAbout the authorsMethodologyHow KPMG can helpRisk and r

52、egulationThe evolution of AI is transforming numerous industries.The rise of Gen AI has caused many organizations to rethink their AI investment strategies with a view to accelerating and building on their experience with machine learning(ML).Financial services companies have always been quick to em

53、brace new technologies.3 As such,92 percent of financial services companies in the KPMG Global Tech Report research indicated their AI investments have generated profits over the last 24 months,compared with a cross-sector average of 88percent.3 h t t p s:/w w w 3.weforum.org/docs/WEF_AI_in_Financia

54、l_Services_Survey.pdfData and AI8KPMG global tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Key findingsRisk and regulationSimplification and modernizationEx

55、ecutive summaryAbout the authorsMethodologyHow KPMG can helpData and AIFinancial services proportion of AI-driven profitability,including subsectors,compared with the cross-sector average InsuranceBanking and capital marketsReal EstateAsset managementPrivate equityFinancial servicesCross-sector aver

56、age88%92%89%94%92%88%87%AI and automation(including generative AI)Our discussions with financial services business and technology leaders suggest they are continuing to be inundated with requests for Gen AI support,with delivery backlogs growing.There are multiple high value use cases,including auto

57、mated claims,automated credit assessment,fraud detection,risk assessment,controls optimization and development,personalization of products and services,fighting cyber-crime and code generation.Financial services organizations are increasingly looking to AI to help tackle complex and time-intensive t

58、asks and to streamline processes.Along with the opportunities,obstacles and barriers to adoption are also growing.Our research confirms that the sector has yet to master the art of scaling AI use cases to fully realize their potential.While 32 percent of financial services companies are already gene

59、rating AI returns,67 percent have not yet reached thisstage.Rapidly evolving technologies are butting up against legacy IT systems,siloed data,and fiscal constraints.“AI is the next technology solution that financial services companies are investing in to become more modular and fast-moving.This has

60、 cost implications,especially since the wide range of digital solutions they are managing simultaneously turns digital debt into a serious risk,”says Paul Henninger,Head of Connected Technology,KPMG in the UK.One of the biggest concerns among financial services leaders is the state of their current

61、systems.According to the 2024 KPMGGlobal AI in finance report 4 nearly 30 percent of financial executives agree Over the past 24 months,have your digital transformation efforts with the following technologies positively impacted your organizations profitability/performance?that difficulty with integ

62、rating existing tools is one of the biggest barriers to AI adoption.Legacy systems limit the ability to innovate,whether it be due to less money being made available for AI use cases,an inability to capitalize on new capabilities or difficulty accessing siloed data sets.A failure to address these ba

63、rriers risks increasing the divide between digital leaders(including fintechs)and the wider functions.In parallel with unwinding legacy tech,digital leaders are shifting how they think about their AI investments from a technology perspective.Historically,organizations have looked at automation and A

64、I technologies through a tool or platform-specific lens(applying robotic process automation RPA to processes and ML models).The landscape has shifted to a much more integrated ecosystem,in which use cases may draw from multiple AIcapability sets.“Ecosystem level AI blueprints consider how end-to-end

65、 value chains can be transformed,beyond automation of certain process steps that solve specific pain points but risk missing the wider change opportunity or impacts.As technologies mature and gain traction across the enterprise,we are seeing a significant and important interplay with how business le

66、aders consider the future service delivery model for their respective functions,whether it be to transform the customer experience or optimize the cost base,”comments David Ryan,Head of Technology for Financial Services,KPMG Australia.4 KPMG,Global AI in finance report,20249KPMG global tech report:F

67、inancial services insights 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Key findingsRisk and regulationSimplification and modernizationExecutive summaryAbout the authorsMethodologyHow KPMG can he

68、lpData and AIProportion of financial services in the top two levels of data maturity(influential or embedded)compared with the cross-sector average across nine key data management categoriesHow effective are your data and analytics activities in the following areas?Influential/EmbeddedDiscussions wi

69、th business and technology leaders,and our experience leading AI programs,have highlighted the critical role data management plays in enabling enterprise-wide transformation,in particular when moving beyond point solutions and isolated AI use cases.David DiCristofaro,KPMG Line of Business Leader for

70、 Financial Services,KPMG in the US explains that,while many companies are making considerable progress,they often struggle to define their desired end state.“Ultimately,they should aim for a closer integration of data management with their overall business strategy and growth objectives,”he says.Thi

71、s likely means embedding this initiative into every interaction,decision and process and,critically,delivering it through a marketplace ofaccessible data products that can easily be discovered and served up.”Data scienceData cultureData interoperabilityData governanceData securityData monetizationEx

72、tracting meaningful insightsData investmentData accessibilityFinancial servicesTotal53%57%53%58%52%56%52%58%52%56%51%54%51%54%50%55%51%54%percentage point year-on-year uplift in the number of financial services companies in the two highest levels of maturity(influential and embedded).Our research fi

73、nds that this has been an area of focus for the financial services sector over the past 12 months.When it comes to data accessibility,there has been a10KPMG global tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entiti

74、es provide no services to clients.All rights reserved.Key findingsRisk and regulationSimplification and modernizationExecutive summaryAbout the authorsMethodologyHow KPMG can helpData and AITo transform the value chain end-to-end,businesses will need to continually address data siloes by strengtheni

75、ng data governance and integration,and consider how to bridge a skills gap.Companies across financial services are currently experiencing a bottleneck for as they look to scale their AI adoption.A recent KPMG survey5 found that only 16 percent of organizations have a workforce that is well equipped

76、to implement Gen AI,with 61 percent looking to hire new talent in this area.“A multi-faced approach is proving to be a critical strategy adopted by digital leaders,”says Ryan.“This involves partnering with third parties to expand the talent pool,providing learning programs and global delivery center

77、s to upskill and engage with the workforce,buying off the shelf assets and solutions,and co-investing with startups or(financial)tech companies to leverage their speed,skills,and balance sheet.”Upgrade legacy systems Legacy systems are holding AI back.Invest to upgrade,re-platform or consider low-co

78、de options to help augment legacy systems where they are impeding the use of AI.Improve data foundations Establish the data foundations needed to enable your vision,including data platforms,products and governance.Build confidence in the quality of data to improve outcomes from the use of AI.Plan fo

79、r talent Identify and plan for your future AI talent.Explore the requirements for upskilling your current team while identifying future sources of skills including partnering or co-investing with startups or tech companies.Transform Architect your AI enabled transformation to maintain focus on long-

80、term goals while releasing value progressively and avoid getting stuck in proofs of concept or pilots that dont deliver value.Accelerate use cases that can prove benefits and de-risk delivery.The financial services sector should consider these challenges with urgency.We recommend the following actio

81、ns,derived from analysis on the performance of global leaders:5 KPMG,KPMG Survey:GenAI Dramatically Shifting How Leaders Are Charting the Course for Their Organizations,2024.Strong data governance treats data as a set of products with one or more specific business goals,and all maintenance,storage a

82、nd quality standards are oriented around that on an ongoing basis.Some leading banks and insurers have started to adopt that approach,and it is paying off for them because it moves away from the idea that data needs to be perfect before it can be useful.Paul Henninger Head of Connected Technology KP

83、MG in the UK KPMG global tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.11Key findingsRisk and regulationSimplification and modernizationExecutive summaryAbo

84、ut the authorsMethodologyHow KPMG can helpData and AI6 h t t p s:/w w w.consumerfinance.gov/rules-policy/notice-opportunities-comment/archive-closed/dodd-frank-act-section-1033-consumer-access-to-financial-records/12KPMG global tech report:Financial services insights 2025 Copyright owned by one or m

85、ore of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.The desire to accelerate transformation appears clear across financial services,with 74 percent of organizations suggesting that,over the next 12months,they plan to focus on investin

86、g in new tech rather than focusing on maintaining their legacy technology.Mounting tech debt caused by years of aggregated cost pressures and the temptation of new technologies has left the sector with a tangled web of systems.“This dynamic increases the risk of outages and results in crowded techno

87、logy transformation portfolios,which makes it difficult to deliver to customers with confidence”says David Ryan,Head of Technology for Financial Services,KPMGAustralia.But the sector is starting to act.“Tech leaders and business sponsors want to tackle the legacy,tightly coupled systems that limit i

88、nnovation,increase downtime and erode the customer experience,”says Ryan.“Compared with 2-3 years ago,there is a much bigger appetite for modernizing systems that underpin financial services companies,from cards to payments,lending,claims,investment management,and core banking or registry systems,al

89、l while improving digital infrastructure and consumer experiences.”Regulation around data transparency,fraud prevention and digital payment systems is accelerating this modernization imperative.Forexample,the US Consumer Financial Protection Bureaus section1033 requires financial organizations to pe

90、rmit consumers access to their financial data,demanding a secure data management system is in place.6 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.KPMG global tech report:Financial services insig

91、htsKey findingsRisk and regulationData and AIExecutive summaryAbout the authorsMethodologyHow KPMG can helpSimplification and modernizationSimplification and modernization7 h t t p s:/eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52020PC0595&rid=10 8 h t t p s:/w w w.cdr.gov.au/13KPMG global

92、 tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.The Digital Operational Resilience Act,which is designed to enhance the operational resilience of digital sys

93、tems supporting financial institutions in European markets,also drives modern architectures,including auto-scaling(adjusting resources based on demand),self-healing(automated detection of failures and initiation of recovery processes)and load balancing(distributing workloads across servers to boost

94、performance and prevent overload).7 And Australias Consumer Data Right(CDR)mandates that banks share product and customer data with a strong focus on data quality and compliance.8 To meet these requirements,a cohesive,integrated digital infrastructure is paramount.While there are multiple benefits i

95、n technology simplification and modernization,one that cannot be underestimated in the current climate is the potential productivity improvements gained in technology delivery,through adoption of public cloud platforms or XaaS technologies,alongside the deployment of DevSecOps tooling,practices and

96、controls.Nearly one-third of respondents say that public cloud platforms or XaaS technologies have helped to reduce both technology debt and TCO in their organizations.What key benefits has your organization achieved from using public cloud platforms/XaaS technologies over the past 12 months?Busines

97、s drivers,regulations,and shifting customer preferences are increasingly pushing financial services companies to adopt flexible,adaptive architectures that can cater to emerging needs.As these organizations modernize their technology stacks,the three key factors that influence their investment decis

98、ions and overall approach to transformation are:Guidance from third parties(89 percent)In-house trials and proof of concept(POC)testing(88 percent)Previous adoption by competitors(78 percent)The first and third factors indicate an appetite to learn from leaders in financial services or other sectors

99、.This approach is particularly prevalent among the sectors digital leaders,who use insights from a broad range of sources,including third-party experts,industry analysts,and technology vendors.The second influencing factor highlights how for many companies,including digital leaders,modernizing legac

100、y tech toward a cloud-based,composable architecture requires careful planning thatconsiders the successes and failures of previous attempts.“The financial services sector has long been ahead of the curve in terms of cloud and data adoption,but recently weve seen a number of organizations stuck halfw

101、ay through a transformation,with results not justifying the costs,”confirms Henninger.“Digital leaders in the sector have now started to focus on finishing the transformation,”he says.“From established markets launching digital sub-brands to large companies trying to compete with fintechs,the sector

102、 has a reputation for trying things that did not work.But all those lessons are now feeding into innovation,”Henninger adds.In an industry where change is constant and the pace of innovation is accelerating,the ability to socialize learnings and continuously adapt will be a critical success factor.T

103、his balance of risk-mitigating and transformation is essential for staying competitive in a fast-evolving marketplace.28%40%Better data management and integration39%Improved security and compliance37%Improved efficiency33%Accelerated adoption of advanced technology31%Reduction of carbon footprint/im

104、proved sustainability29%Reduction of technology debtLower total cost of ownership23%Expanded scaleKey findingsRisk and regulationData and AIExecutive summaryAbout the authorsMethodologyHow KPMG can helpSimplification and modernizationCustomer feedback provides a clear view of the things that matter,

105、but financial services companies must move beyond this to unlock significant value.For example,soon I expect we will see entirely AI-based service delivery models,which require a shift toward component-based architectures.Senior executives are asking what those fundamentally different end-to-end dig

106、ital experiences could look like,and what the business needs to get there.David DiCristofaro US Line of Business Leader for Financial Services KPMG in the US14KPMG global tech report:Financial services insightsOne of the unintended consequences of leaders embracing the challenges of technical debt a

107、nd the opportunities offered by XaaS,data,and AI,is the creation of an overcrowded technology transformation portfolio that can be difficult to manage.“Digital leaders need to excel in multimodal thinking,enabling them to rapidly respond to shifting circumstances,and manage a growing portfolio of ch

108、ange,”says Ryan.“This flexibility is crucial in a dynamic environment,where companies need to stay ahead of evolving conditions,shifting customer preferences,and technological advancements.”When done right,the benefits of this strategy and its successful execution can be significant.By simplifying a

109、nd modernizing systems,and effectively harnessing the power of data and AI,organizations are better positioned to understand and swiftly respond to changing customer needs and community expectations.This approach enables businesses to create digital experiences,products,and services that are not onl

110、y secure and resilient but also innovative and differentiated in a competitive landscape.Focusing on simplification and modernization can help organizations reduce complexity,streamline processes,and build a more flexible and resilient technology environment.We suggest financial services companies f

111、ocus on four key actions:14Assess Begin by evaluating existing legacy systems to identify inefficiencies and complexity that may hinder agility.Focus on areas where simplification can yield immediate improvements in performance,cost reduction,and operational speed.Engage with key stakeholders to ali

112、gn on challenges and ensure a shared understanding of the need for modernization.Prepare Create a clear roadmap for removing unnecessary complexity and adopting more modern,flexible technologies,such as cloud-based solutions.Prioritize areas with the highest impact on operational efficiency and cust

113、omer experience.Establish governance structures,leadership models,and cross-functional squads to ensure alignment across the organization.This foundational work ensures that the transformation is well-supported,with clear objectives and communication pathways to guide execution.Leverage Identify whe

114、re organizations can harness assets and experiences(e.g.,from partners)to expedite and de-risk the change,while maintaining focus on areas of differentiation.DeliverDesign,build and deliver towards a more resilient,composable,cloud-based infrastructure that supports future growth and operational fle

115、xibility.Maintain a focus on continuous improvement,tracking progress and refining systems to meet evolving market needs.Ensure that simplification efforts are sustained,aligning with long-term business goals and reducing complexity over time.2025 Copyright owned by one or more of the KPMG Internati

116、onal entities.KPMG International entities provide no services to clients.All rights reserved.Key findingsRisk and regulationData and AIExecutive summaryAbout the authorsMethodologyHow KPMG can helpSimplification and modernizationTransformation is an ongoing journeyTheres no quick fix for todays busi

117、ness challenges.Major changes are in motion,often happening in parallel involving more stakeholders,with more at risk and requiring more complex decision-making.All this can put relentless pressure on your organization,your people,and your broader ecosystem.This journey of constant change is unpredi

118、ctable but how you approach it should not be.The global KPMG global network of financial services professionals can help you navigate these challenges through an efficient,ethical,and demonstrated framework to help deliver results that matter.We combine advanced technology,deep expertise,and operati

119、onal excellence to help continually evolve your processes.With KPMG Managed Services,organizations can create nimble,scalable business functions that both evolve at pace and pivot quickly to adapt with changing priorities,helping to accelerate the transformation journey in a sustainable way and help

120、 stay ahead of competitors while minimizing disruption and risk.Learn more.You can with AIIn the artificial intelligence(AI)era,anything seems possible.Untapped value,constant innovation,new frontiers.Especially with a knowledgeable guide by your side.We help clients harness the power and potential

121、of AI.With more than 150 years of data,industry insights,technology and regulatory expertise,KPMG member firms work with clients to identify AI opportunities and demonstrate how it can help to solve critical business challenges and unlock new revenue.KPMG has developed a suite of capabilities that c

122、ombines a feature-rich AI development platform with a robust portfolio of prebuilt and tested AI-enabled technology solutions,backed by deep industry knowledge and domain expertise.KPMG offers developer and user interfaces to build,train,configure,and deploy customized AI-enabled technology solution

123、s which in turn helps a clients solutions stack to work cohesively and seamlessly as they scale AI across the organization.Let KPMG show you how.Learn more.How KPMG can help15KPMG global tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG International entities.KP

124、MG International entities provide no services to clients.All rights reserved.Key findingsRisk and regulationData and AISimplification and modernizationExecutive summaryAbout the authorsMethodologyHow KPMG can helpAbout the authorsAs Head of Technology for Financial Services at KPMG Australia,David s

125、pecializes in helping Banks,Insurers,Asset Managers and Superannuation Funds with making sense of the complex business and technology landscape,designing strategies and transformation pathways that drive real,sustainable change and performance improvements.He has worked with with a number of world c

126、lass organizations across the Asia Pacific,North America and Europe;and with his colleagues,team and global network,actively brings this experience to his clients.David RyanHead of Technology for Financial Services KPMG AustraliaWith more than 25 years of experience across the analytics and technolo

127、gy sector,working for and starting up major technology innovators prior to a transition to consulting,Paul leads the UK Technology function including technology advisory,data and analytics,cloud and application engineering,automation,and enterprise solutions teams to drive large-scale transformation

128、 projects for clients around the world,utilizing major platforms including SAP,Oracle,Salesforce,Coupa and others.Paul HenningerHead of Connected Technology KPMG in the UKDavid has spent his career serving major global,national,and regional banks and other financial services companies in financial,g

129、overnance,risk,compliance,and technology roles.He has experience assisting banks with major business,regulatory and risk transformation and has delivered technology solutions to meet business,financial,risk and regulatory requirements,leading to cost savings,efficiency realization and risk reduction

130、.David DiCristofaroUS Line of Business Leader for Financial Services KPMG in the US16KPMG global tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Key findingsR

131、isk and regulationData and AISimplification and modernizationExecutive summaryMethodologyHow KPMG can helpAbout the authorsMethodologyThis report draws upon the perspectives from 612 leaders across the financial services sector.Survey respondents represented organizations with annual revenues above

132、US$1 billion and included a diverse group of technology leaders,such as Chief Digital Officers,CIOs,CTOs,CISOs,Chief AI Officers,and others.25%Americas36%Asia Pacific(ASPAC)38%Europe,Middle East and Africa(EMEA)More than 20 countries/territories:were board members or members of the C-suitereported r

133、evenues in excess of US$10 billion17KPMG global tech report:Financial services insights 2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Key findingsRisk and regulationData and AISimplification and m

134、odernizationExecutive summaryAbout the authorsHow KPMG can helpMethodologyKarim HajiGlobal Head of Financial ServicesKPMG InternationalE:karim.hajikpmg.co.ukFrank PfaffenzellerGlobal Head of InsuranceKPMG InternationalE:Gavin GeminderGlobal Head of Private EquityKPMG InternationalE:David RyanHead of

135、 Technology for Financial ServicesKPMG AustraliaE:.auFrancisco UraGlobal Head of BankingKPMG InternationalE:furiakpmg.esJim SugliaGlobal Head of Asset ManagementKPMG InternationalE:David DiCristofaroUS Line of Business Leader for Financial ServicesKPMG in the USE:Paul HenningerHead of Connected Tech

136、nologyKPMG in the UKE:paul.henningerkpmg.co.ukContactsSome or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related The information contained herein is of a general nature and is not intended to address the circumstances of any particular

137、individual or entity.Although we endeavor to provide accurate and timely information,there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future.No one should act on such information without appropriate professional

138、advice after a thorough examination of the particular situation.2025 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.KPMG refers to the global organization or to one or more of the member firms of KPMG I

139、nternational Limited(“KPMG International”),each of which is a separate legal entity.KPMG International Limited is a private English company limited by guarantee and does not provide services to clients.For more detail about our structure please visit KPMG name and logo are trademarks used under lice

140、nse by the independent member firms of the KPMG global organization.Throughout this publication,“we”,“KPMG”,“us”and“our”refers to the KPMG global organization,to KPMG International Limited(“KPMG International”),and/or to one or more of the member firms of KPMG International,each of which is a separate legal entity.Designed by Evalueserve.Publication name:KPMG global tech report:Financial services insights|Publication number:139772-G|Publication date:January 2025