Chapter 3 – The Path Toward Becoming Disruptors in Banking

This final chapter provides further direction on the different approaches that banks can adopt to become disruptors. These approaches are based on banks’ current DNA construct that is determined by their target customer segment, geographic presence, unique market proposition and internal systems.  

Each bank is positioned uniquely on its cloud transformation journey. A bank’s position can be estimated based on the following framework, which is built on two key elements – innovation and efficiency.

• Entrants – Banks that are yet to begin or are in the initial stages of their cloud transformation program.
• Optimizers – Banks that are operating with higher costs due to legacy systems and focusing largely on driving cost efficiency.
• Innovators – Banks that are facing immense competitive pressure and expect to lose market share, thus have cloud transformation centered around building new capabilities and revenue sources.
• Disruptors – True state of future banks, where both innovation and efficiency are built in the operating model right from the beginning. 

Wipro and Capco global banking research report series, Chapter 3 – Reaching for the Cloud: A Proposition for Leaders, for more details on how banks can accelerate cloud adoption and to discover three distinct approaches to cloud transformation that banks can follow to become disruptors.