Business
Future Ready Business – how financial services is shaping up
Published by linker 5
Posted on November 11, 2020
3 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by linker 5
Posted on November 11, 2020
3 min readLast updated: January 21, 2026
According to Vodafone Business’s Future Ready Report 2020, just 26% of financial services businesses are “future ready” and have a positive outlook for the future, with a focus on technological impact and customers’ evolving needs.
Technology is now a major driving force not only for innovation, but in enhancing people’s personal and business lives. The data shows that it will naturally be the ‘future ready’ companies that are better placed to make the changes needed to succeed in this new world. And it is those companies that will be reimagining how business is conducted in the future.
The Future Ready Report has uncovered the key challenges and themes the financial services sector is facing when it comes to thriving in this new business world, including:
Attitudes to the future:
Sustainability:
Skills and future employees:
Vinod Kumar, CEO at Vodafone Business commented on the research:
“The financial sector has been working hard for many years to add new channels, simplify processes and remove legacy infrastructure, all with the goal of serving customers better. Experiences over the past few months have highlighted that digitalisation is imperative for businesses in this sector, with those further down the path believing themselves better placed to succeed than their peers.
“As a whole the industry has great potential for change. Insurance, retail and private banking companies all have access to vast amounts of data and are increasingly looking at what technology based transformation can offer them. They have the opportunity to blend deep digital insight with their powerful human centric brands to create real differentiation for customers. If this is done correctly they can become smarter, faster and more resilient, but not at the cost of their humanity.”
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