In 2013, capital markets consultancy GreySpark Partners began exploring the growing trend of digital transformation within the global investment banking industry, subsequently explicating the findings of that examination over the course of several research reports. GreySpark’s perspective underpinning the identification of digital transformation as a trend within the industry is simple: The automation of front-office client- and markets-facing processes and workflows resulting from the adoption of e-commerce and e-trading business models and principles will revolutionise the historical configuration of the whole of the corporate and investment banking sector over the next 10-20 years.
What remains complex is the development of a precise understanding of when efforts toward achieving new, digitally-transformed states will fully manifest within the banking industry, resulting in the creation of an automated, front-to-back reality for wholesale markets financing, lending and trading services. In 2019, a new GreySpark service offering – the Digital Maturity Index for Investment Banks – aims to bring clarity to that complexity through the assembly of 60-plus banks’ assessments of the veracity of their respective digital innovation target states and the expression of those objectives to-date within the sophistication of their current front-office functional capabilities.
Is Digital Transformation a Threat to the Business Model of Corporate & Investment Banking?
What originally started as ‘electronification’ – the automation of external-facing, front-office processes and workflows – has become much more pervasive, and it now encompasses the entire value-chain.