Check out these 4 key statistics on the state of process automation in the financial services sector. Want to learn more about how low-code can help you automate more processes across your business? Read our latest blog post: https://aurachain.ch/blog/4-ways-low-code-can-help-financial-services-digital-transformation/

1. The state of
automation in the
Financial Sector
4 KEY STATS THAT EXPLAIN

2. of senior management teams name process
automation as the top implementation focus
of their digital transformation strategy.
Source: Global risk management survey by EY
88%

3. Moreover, financial services firms are not
finding it easy to recruit the developer talent,
with 87% of executives experiencing skill gaps
in the workforce.
Source: McKinsey survey

4. 27%
of banks have committed
to some form of digital
transformation.
Perhaps this developer shortage can go some way to
why only 27% of banks have committed to some form
of digital transformation.
And that's despite the COVID-19 pandemic forcing
many to the digitalization of certain processes out of
sheer necessity.
Source: 'What's Going on in Banking 2021' report, Cornerstone Advisors

5. Traditional software
development projects
can take anything
from 6 up to 18 months
to complete.
Any bank or financial services firm looking to
digitally transform will find that waiting that long
to address hyper-automation will result in an ever-
growing backlog of software requests.

6. Software development
before LOW-CODE
FASTER
80
%
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