GITNUXREPORT 2025

Digital Transformation In The Financial Industry Statistics

Majority of financial institutions invest in digital transformation for competitive advantage.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

60% of consumers prefer digital channels for their banking needs

Statistic 2

42% of consumers would switch banks if another offered better digital services

Statistic 3

80% of banking mobile app users prefer to conduct transactions via mobile

Statistic 4

68% of customers who use digital banking services are satisfied, compared to 46% who do not

Statistic 5

78% of financial institutions report that digital transformation has improved customer engagement

Statistic 6

45% of financial institutions see customer loyalty as directly correlated with their digital experience quality

Statistic 7

67% of banking customers expect real-time notifications about their transactions

Statistic 8

77% of financial firms believe that digital transformation will help them better manage customer expectations

Statistic 9

55% of financial institutions cite customer data analytics as vital for personalized banking

Statistic 10

69% of banks report increased customer retention through digital channels

Statistic 11

45% of consumers use biometric authentication for their banking security

Statistic 12

80% of financial companies believe that their digital transformation has helped them better meet customer expectations

Statistic 13

85% of banking executives view digital transformation as essential for competitive advantage

Statistic 14

55% of financial firms plan to increase their cloud computing budgets in the next year

Statistic 15

65% of financial organizations use big data analytics to enhance decision-making

Statistic 16

73% of financial institutions plan to pursue digital transformation to meet regulatory compliance faster

Statistic 17

62% of banking CEOs prioritize digital transformation over physical branch expansion

Statistic 18

70% of insurers are investing in digital tech to streamline claims processing

Statistic 19

50% of banking transactions worldwide are expected to be completed via digital channels by 2025

Statistic 20

58% of banks plan to adopt open banking platforms in the next year

Statistic 21

88% of fintech startups report that digital transformation is key to their growth strategy

Statistic 22

42% of financial organizations are exploring cryptocurrencies and digital assets as part of their strategic planning

Statistic 23

65% of insurance companies invest in customer portals and digital claim filing systems

Statistic 24

59% of financial firms are actively using digital onboarding tools to improve customer onboarding efficiency

Statistic 25

63% of banking executives say that digital transformation is integral to their long-term strategy

Statistic 26

48% of financial organizations are developing or implementing omnichannel marketing strategies

Statistic 27

72% of financial institutions believe digital transformation improves their ability to innovate quickly

Statistic 28

45% of banks have adopted AI-based chatbots for customer service

Statistic 29

55% of banks have implemented blockchain technology for cross-border payments

Statistic 30

40% of financial services firms have fully digitized their core processes

Statistic 31

50% of financial institutions are leveraging AI for fraud detection

Statistic 32

35% of financial firms have integrated machine learning into their risk assessment processes

Statistic 33

80% of financial firms expect to see a significant ROI from their digital investments within 2 years

Statistic 34

46% of financial institutions use advanced analytics to detect and prevent money laundering

Statistic 35

49% of financial brands plan to implement 5G technology to improve mobile banking experiences

Statistic 36

62% of financial institutions have started using biometric authentication methods

Statistic 37

59% of financial firms feel that implementing AI improves their fraud detection capabilities

Statistic 38

52% of banks around the world are adopting or planning to adopt machine learning algorithms for credit scoring

Statistic 39

46% of financial institutions utilize APIs to enable open banking and innovation

Statistic 40

54% of financial institutions plan to leverage augmented reality (AR) and virtual reality (VR) for customer engagement

Statistic 41

44% of banking institutions have adopted predictive analytics to assess customer credit risk

Statistic 42

70% of financial institutions have increased their investment in digital transformation initiatives since 2020

Statistic 43

53% of financial companies are using robotic process automation (RPA) to reduce operational costs

Statistic 44

60% of banks report increased revenue growth due to digital transformation efforts

Statistic 45

73% of financial organizations agree that digital transformation enhances compliance processes

Statistic 46

64% of financial organizations have seen a 20% reduction in operational costs post digital transformation

Statistic 47

72% of financial institutions think AI will significantly change back-office operations in the next five years

Statistic 48

68% of financial organizations report increased operational agility due to digital transformation

Statistic 49

40% of financial service providers have experienced a data breach due to inadequate cybersecurity measures

Statistic 50

51% of financial services firms prioritize cybersecurity spending for digital initiatives

Statistic 51

74% of financial institutions believe that digital identity verification will prevent fraud

Statistic 52

70% of finance professionals agree that data privacy concerns are a barrier to digital transformation

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Key Highlights

70% of financial institutions have increased their investment in digital transformation initiatives since 2020
85% of banking executives view digital transformation as essential for competitive advantage
60% of consumers prefer digital channels for their banking needs
45% of banks have adopted AI-based chatbots for customer service
55% of financial firms plan to increase their cloud computing budgets in the next year
65% of financial organizations use big data analytics to enhance decision-making
55% of banks have implemented blockchain technology for cross-border payments
42% of consumers would switch banks if another offered better digital services
73% of financial institutions plan to pursue digital transformation to meet regulatory compliance faster
40% of financial services firms have fully digitized their core processes
80% of banking mobile app users prefer to conduct transactions via mobile
50% of financial institutions are leveraging AI for fraud detection
68% of customers who use digital banking services are satisfied, compared to 46% who do not

With 85% of banking executives viewing digital transformation as essential for competitiveness and 70% of financial institutions ramping up investments since 2020, the industry is experiencing a seismic shift that is reshaping how we bank and plan for the future.

Customer Preferences and Behavior

60% of consumers prefer digital channels for their banking needs
42% of consumers would switch banks if another offered better digital services
80% of banking mobile app users prefer to conduct transactions via mobile
68% of customers who use digital banking services are satisfied, compared to 46% who do not
78% of financial institutions report that digital transformation has improved customer engagement
45% of financial institutions see customer loyalty as directly correlated with their digital experience quality
67% of banking customers expect real-time notifications about their transactions
77% of financial firms believe that digital transformation will help them better manage customer expectations
55% of financial institutions cite customer data analytics as vital for personalized banking
69% of banks report increased customer retention through digital channels
45% of consumers use biometric authentication for their banking security
80% of financial companies believe that their digital transformation has helped them better meet customer expectations

Customer Preferences and Behavior Interpretation

As the digital tide lifts 80% of financial institutions’ customer satisfaction, it’s clear that embracing real-time, personalized, and secure digital banking isn’t just an option—it’s the new standard for customer loyalty and competitive advantage in the financial industry.

Digital Transformation and Adoption of Technology

85% of banking executives view digital transformation as essential for competitive advantage
55% of financial firms plan to increase their cloud computing budgets in the next year
65% of financial organizations use big data analytics to enhance decision-making
73% of financial institutions plan to pursue digital transformation to meet regulatory compliance faster
62% of banking CEOs prioritize digital transformation over physical branch expansion
70% of insurers are investing in digital tech to streamline claims processing
50% of banking transactions worldwide are expected to be completed via digital channels by 2025
58% of banks plan to adopt open banking platforms in the next year
88% of fintech startups report that digital transformation is key to their growth strategy
42% of financial organizations are exploring cryptocurrencies and digital assets as part of their strategic planning
65% of insurance companies invest in customer portals and digital claim filing systems
59% of financial firms are actively using digital onboarding tools to improve customer onboarding efficiency
63% of banking executives say that digital transformation is integral to their long-term strategy
48% of financial organizations are developing or implementing omnichannel marketing strategies
72% of financial institutions believe digital transformation improves their ability to innovate quickly

Digital Transformation and Adoption of Technology Interpretation

With nearly all financial players racing to digitize, it's clear that in today's industry, embracing cloud, big data, and fintech innovations is less an option than a necessity for survival and competitiveness.

Implementation of Advanced Technologies and Innovations

45% of banks have adopted AI-based chatbots for customer service
55% of banks have implemented blockchain technology for cross-border payments
40% of financial services firms have fully digitized their core processes
50% of financial institutions are leveraging AI for fraud detection
35% of financial firms have integrated machine learning into their risk assessment processes
80% of financial firms expect to see a significant ROI from their digital investments within 2 years
46% of financial institutions use advanced analytics to detect and prevent money laundering
49% of financial brands plan to implement 5G technology to improve mobile banking experiences
62% of financial institutions have started using biometric authentication methods
59% of financial firms feel that implementing AI improves their fraud detection capabilities
52% of banks around the world are adopting or planning to adopt machine learning algorithms for credit scoring
46% of financial institutions utilize APIs to enable open banking and innovation
54% of financial institutions plan to leverage augmented reality (AR) and virtual reality (VR) for customer engagement
44% of banking institutions have adopted predictive analytics to assess customer credit risk

Implementation of Advanced Technologies and Innovations Interpretation

As the financial industry races to digitize and innovate, with over half adopting AI, blockchain, and advanced analytics, the stark reality is that those investing in these cutting-edge technologies are poised for significant ROI and stronger fraud defenses—yet nearly half still lag behind in fully embracing the digital revolution that promises to redefine banking as we know it.

Operational Impact and Business Outcomes

70% of financial institutions have increased their investment in digital transformation initiatives since 2020
53% of financial companies are using robotic process automation (RPA) to reduce operational costs
60% of banks report increased revenue growth due to digital transformation efforts
73% of financial organizations agree that digital transformation enhances compliance processes
64% of financial organizations have seen a 20% reduction in operational costs post digital transformation
72% of financial institutions think AI will significantly change back-office operations in the next five years
68% of financial organizations report increased operational agility due to digital transformation

Operational Impact and Business Outcomes Interpretation

With over 70% of financial institutions ramping up digital investments and nearly three-quarters recognizing enhanced compliance and operational agility, it's clear that in the race toward innovation, sticking to traditional methods is quickly becoming a costly gamble—especially as AI and automation threaten to redefine the back-office landscape within the next five years.

Security, Data Privacy, and Risk Management

40% of financial service providers have experienced a data breach due to inadequate cybersecurity measures
51% of financial services firms prioritize cybersecurity spending for digital initiatives
74% of financial institutions believe that digital identity verification will prevent fraud
70% of finance professionals agree that data privacy concerns are a barrier to digital transformation

Security, Data Privacy, and Risk Management Interpretation

With over half of financial firms investing in cybersecurity yet 40% still falling victim to data breaches, it’s clear that in the race toward digital transformation, securing digital identities and addressing privacy concerns are no longer optional but essential for trust and resilience.