Navigating Challenges for Sustainable Cost Optimization in Banks

The byline, published in digital Global Finance magazine, by Andrew Groth, Regional Head Financial Services AsiaPac, Infosys, points out how only one in four banks are achieving expected returns on their IT strategies to optimize costs, as per results in a recent survey by Infosys. Respondents highlighted the following three barriers to sustained cost optimization initiatives at their banks:

We asked our survey respondents about the barriers to sustained cost optimization initiatives at their banks – and the following three key challenges stood out:

• Reluctance to tackle systemic change
• Prioritizing growth over efficiency
• A cultural aversion to change

Andrew shares his analysis along with further insights in this article.

In this document, learn more about how Infosys can help financial institutions across the globe prepare for the next wave of AI-powered payments.