Suppose there is a treasure at the top of a mountain worth $405B. It is more than one person alone can carry back down the mountain, and you have a chance at that treasure. Many people want the treasure and will work hard to get to the top to claim it.   All you have to do is make a plan on how to get to the top of the mountain quickly, so there is some left, and then determine how you can take as much of that treasure with you.  But where do you start? How quickly will you need to move to beat others to the top?

This scenario is playing out in the retail banking industry right now. Cisco just released a comprehensive research study, “A Roadmap to Digital Value in the Retail Banking Industry.” The study highlights a massive opportunity for those banks that digitize and innovate: $405 billion in potential digital value from 2015-2017 (the treasure!). The path to that value isn’t easy, and the report underscores that banks are challenged by everything from agile fintech disruptors and changing customer expectations, to complex compliance demands and outmoded IT investments.

However, unlike the mountain example above, where no clues are provided about how to get to the top and obtain the treasure, we know that more than 90 percent of that $405B is driven by key digital use cases; such as sales and services transformation, next-generation workers (workforce transformation), mobile payments, video advice, and virtual tellers. We also know that a key aspect of these plans must be a robust foundation of cybersecurity.

Further, we can assess your current strengths and starting point, helping you to more quickly get to a point where you are adopting and combining the right digital use cases for your needs. All while doing it securely, so you capture your share of the $405B treasure.


Luckily, a key aspect of your treasure map leverages the expertise, financial advice, and customer service retail banks have traditionally provided. It just involves providing all of that digitally — with, for example, bank associates empowered with real-time data insights and the ability to service more customers than ever before, in the branch or beyond, via video.

And while traditional branches may have less of a place in the plan to capture the digital value, digitally enabled branches will continue to be another source of differentiation that online fintechs simply can’t match. As in retail, bank customers still want to visit a space where they can carry out their transactions, receive financial planning assistance, and learn about new financial products.

The treasure is real, and we have many clues on how to provide the kind of experience that is convenient, relevant, and seamlessly integrated with all channels through which the new digital customer accesses services.  Your starting point, combined with these clues, is your Digital Roadmap!


Jason Bettinger

Practice Director

Financial Services, Americas Business Transformation