If transformation needs to be bold, do banks have the right tools for success?

EY – Banking transformation leaders across the globe uncover six recommendations for overhauling organizational change.

Banks are struggling to transform. 38% of leaders say transformations underperform against key performance indicators (KPIs). In parallel, two-thirds (67%) experienced at least one underperforming transformation in the past five years.

Yet, two-thirds of executives also say that an organization’s ability to transform is extremely important to its future existence. If banks recognize the importance of a successful transformation, why do they not meet expectations so frequently? And more importantly, how can they make success more likely?

EY teams interviewed banking transformation executives at 10 major multinational banks in different locations around the world.

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