PUBLISHED DATE: 2025-08-14 01:43:29
GLOBAL BANKING BENCHMARK STUDY 2022
Where are German banks on their digital transformation journey?
The Inside Story from 60 German Banking Leaders
To uncover the state of digital transformation in German banking, we surveyed 60 senior banking leaders for their insights. We asked them how their transformations are progressing, what their main challenges are, and how they’re prioritizing their transformation strategies. Here’s a snapshot of what we found.
Key Stats at a Glance
- 65% have a clearly articulated digital transformation strategy.
- 38% have made significant progress implementing this strategy.
- 17% have a fully agile operating model in place.
- 60% say customer-centricity is driving key decisions within their organization.
The top priorities for digital business transformation in German banks are:
- 22%: Growing revenue from existing products
- 18%: Challenging the threat posed by new market entrants (e.g., Google, Apple, Amazon)
- 13%: Growing revenue with new products and/or service offerings
- 13%: New customer acquisition
- 13%: Improving the customer experience
- 12%: Enabling greater agility
- 8%: Reducing costs through improved efficiency
A Lack of Unified Strategy or Investment
37% said a lack of unified strategy across the firm’s business functions and support from leadership was the biggest hurdle to digital transformation.
The Failure of Past Digital Investments
33% said past failures of digital investments was the top progression barrier over the last 12 months.
Lack of Access to Data and Regulatory Challenges
30% believe a lack of access to data is hindering their digital transformation, with a lack of clear ownership and accountability being one of the biggest challenges they’re facing.
Omnichannel, Data, and Personalization: Top Priorities for German Banks
We asked our 60 German banking leaders what their priorities were regarding customer experience transformation:
- 40% said creating seamless omnichannel customer journeys was their standout priority.
- 33% prioritized enhanced performance tracking and combining customer data to create a better view of the customer.
- 32% said creating personalized customer journeys was their main objective.
New Talent, New Tech: The Key to Driving Operational Transformation
More than any other country, Germany is focusing on new talent development to transform operations.
Operational Transformation
- 35% rank developing new talent as their highest priority in operational transformation.
Partners and Networks
- 33% are prioritizing partners and networks, with 70% agreeing third-party partnerships are a vital part of their strategy.
Technology
- 33% of banks are taking a proactive approach to their technology, with competition from digital-first challengers seen as a key factor driving this.
How Do German Banks Rank Themselves on Customer Experience (CX)?
- 68% of banks think they’re ahead of their competitors when it comes to optimizing customer experiences.
- 30% think they’re behind in creating personalized customer experiences.
Digital Transformation and ESG
- 60% say ESG is a key driver of their digital transformation plans.
- 67% believe their ESG investment strategy gives them a competitive advantage.
- 42% admitted they don’t have the data, capabilities, or processes in place to assess their ESG performance.
Pushing for Diversity
German banks are leading the way in driving diversity, equity, and inclusion, with 58% of those asked saying their organization has made DEI commitments—far above the global average of 35%.
For more information, contact: edeltraud.leibrock@publicissapient.com
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