The Future is Horizontal: Competing on Enhanced Experience and Efficiency in Financial Services

To uncover insight into what’s driving change in the industry—and how financial services organizations can keep pace with that evolution—we surveyed 105 industry leaders about their top priorities for 2020. Improving confidence to tackle 2020 imperatives requires financial services firms to move from vertical, siloed organizations towards matrixed organizations with horizontal ways of operating focused on customer solutions. This organizational orientation can position firms to address both CX and operational efficiency as central priorities.

In our research, 100 percent of financial services leaders agree that CX provides a competitive advantage. Operational efficiency—through reduced handoffs and enhanced collaboration around customer solutions—can be an avenue to unlock the promise of CX differentiation. To reap greater value from these new ways of working and deliver a differentiated experience, firms must intentionally focus on tackling inefficiencies across technology, processes, and—most importantly—people.

In helping industry leaders forge the path to CX differentiation and operational efficiency in a horizontal world, we examine opportunities across data, technology, ways of working, and talent for the year ahead.

Click here to learn more about Beacon 2020 trends in the financial services industry.

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