Future of finance in a digital world
An Indian perspective
Digital in finance is now moving beyond an academic discussion. Finance leadership is waking up to the exponential possibilities of digital, and use cases are evolving every second day. The stimulus is often coming from the front-end of the business where digitization is completely transforming the way we work, live, and relax. And, with the millennials in the workforce, there is an increased attention to make finance processes simple, friendly, and agile. Digital Finance is the need of this very hour!
Over the last few months, Deloitte has spoken to a host of finance leaders in India to understand this journey and the benefits. The discussions centred around three broad questions of interest:
- Is digital a part of your future of finance strategy?
- How are you going ahead with the digital implementation in finance?
- Are you getting the benefits that you envisaged?
Our research and multiple discussions are now crystallized in this thought paper, Crunch Time - Future of Finance in a Digital World, an Indian perspective. While the subject deals with a wide range of themes around finance in a digital world, we have tried to stimulate thoughts around four key areas:
- Provocations around future of finance in a digital world
- "The octagon of exponentials"—eight core technologies shaping the future of finance
- Use cases evolving in finance and beyond for these octagon elements
- The talent dynamics—how to spot and nurture talent to serve the differentiated and distinct needs for finance in this new era
Digital transformation of finance: Key to make the shift work toward a digital organization
The digital shift