External reports

The Future Of Digital Banking, Revisited

Sopra Banking Software's externally written reports with analyst firms

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Page 3 of 27

Key Findings With a looming downturn, future-proofing business models is an even stronger imperative for banks. One-third of survey respondents noted their banks fear an economic recession while supply chain disruptions have already impacted their businesses. Banks have to split their attention between innovating to counter the downturn and increasing operational resilience, while cutting back on budgets and head counts. Banks restructure their future roadmaps to build resilience and capitalize on growth opportunities. Immediate imperatives include fortifying cybersecurity and supply chains to bolster resilience. Simultaneously, banks are prioritizing the creation of new revenue streams, such as by improving environmental sustainability and supporting the financial well-being of customers. Banks struggle to transform by themselves. Transformation is proving hard for banks as their confidence in their future readiness decreased this year with the biggest drops in process and structure and cross-functional, agile collaboration — both crucial aspects to drive change and evolution towards collaborative business models. Banks will rely more heavily on their vendors to cope with fast- moving market dynamics. Almost two-thirds of banks (65%) prefer to turn to third parties rather than build homegrown solutions. Investments go to higher-tech vendors with capabilities that help banks move the needle with their ecosystem ambitions, as challenges become more acute and environments more difficult. THE FUTURE OF DIGITAL BANKING, REVISITED 4

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