Executive Summary

Digital is integral to the customer experience, and banks’ heads of digital are the lynchpin. Through our exclusive interviews with heads of digital at 12 of the largest financial institutions and three top neobanks across the US, UK, and Canada, this report will illuminate the biggest challenges and opportunities these executives are facing.

3 KEY QUESTIONS THIS REPORT WILL ANSWER

1. What are the biggest factors shaping operating environments for heads of digital?
2. What are the top priorities on the agendas of heads of digital?
3. What challenges do heads of digital face in delivering on their top priorities?

WHAT’S IN THIS REPORT? We synthesize exclusive interviews with a dozen heads of digital at some of the largest financial institutions in the US, UK, and Canada and heads of product at three top neobanks. We glean insights into how heads of digital define their roles and their place in the organization; how trends are shaping their responsibilities; the greatest challenges heads of digital face; and the priorities they’ve set for the future.

KEY STAT: Agility is a top priority for over half (51.0%) of today’s banking executives, according to a May 2021 survey conducted by BDO. This indicates that agile, cross-functional teams will become the cornerstone of culture and long-term digital initiatives at banks in the US.