Key facts
- The first FIS Readiness Report assesses growth readiness of the buy- and sell-sides of the financial services market across areas such as digital innovation, automation and emerging technology.
- Survey finds most senior executives believe their financial institutions lack technology to support growth plans.
JACKSONVILLE, Fla.--(BUSINESS WIRE)--New research released today by financial technology leader FIS™ (NYSE: FIS) revealed that only 25% of buy-side and sell-side executives surveyed believe their firms have the technology capability to support their growth ambitions.
The FIS report also found that firms with the strongest performance in key operational growth areas, such as automation, data management and innovation, are significantly more likely to have grown their assets under management over the past year.
The findings are part of the first FIS Readiness Report, “The Hunt for Growth,” which surveyed 1,000 C-suite and senior executives across the buy-side and sell-side of the financial services market. Other key findings of the report were:
- Nearly half (47%) of those surveyed say the economic outlook will create growth opportunities over the next year.
- Firms are prioritizing new client acquisition and better operating margins in the hunt for growth.
- Half of respondents (50%) say new client acquisition is one of their top three growth objectives for the next 12 months.
- 47% have grown assets under management by 5% or more in the last 12 months;
- More than a third (37%) have implemented artificial intelligence or machine learning in their business versus just 6% of the rest of the sector;
- More than four in 10 (41%) growth leaders are currently testing blockchain technology versus less than a fifth (19%) of other institutions.