Bridging the Gap: How the Financial Services Innovation Hub is Tackling Implementation Challenges
In the world of financial services, digital transformation is no longer optional — it’s essential for survival. Yet, despite the clear imperative, implementation remains a significant challenge. According to management consultants like Deloitte and McKinsey, a staggering 70% of digital transformation projects fail. Even organizations with deep pockets and technical resources — from Goldman Sachs with Marcus to HSBC with Zing — have experienced high-profile setbacks.
The Implementation Challenge
During a recent LinkedIn Live session, I discussed this critical issue with my business manager, Ed Brooks. We explored why bridging the gap between vision and execution is so difficult in financial services:
- Legacy technology constraints
- Cultural resistance to change
- Underestimated complexity and costs
- Employee resistance
- Vendor selection challenges
The reality is that successful implementation requires collaboration across multiple departments — from technology and HR to compliance, legal, and finance. Each brings a different perspective, and in many cases, teams are navigating unfamiliar territory without established playbooks.
A Community-Based Solution
This implementation gap is precisely why we’ve created the Financial Services Innovation Hub — a dedicated space for practitioners to share real-world experiences, practical steps, and lessons learned. Unlike conferences or LinkedIn posts, which provide valuable but often static or temporary insights, our hub offers:
- Live events with industry experts focused on practical implementation
- Ongoing discussions that continue beyond event timeframes
- Access to specialists for specific questions
- A searchable repository of use cases and lessons learned
- Opportunities to connect with peers facing similar challenges
As Ed noted during our discussion, “Unless we feel empowered as individuals to move things forward with the right knowledge, everything starts to lag. We become risk-averse, checking every box, and suddenly a two-month project takes six months.”
Upcoming Events: AI Implementation in Financial Services
We’re kicking off with a series focused on one of the most pressing transformation challenges: implementing AI in financial services.
Tuesday, April 8, 2025 | 19:00 CET
From Data to Decisions — Unlocking AI’s Full Potential in Financial Services Featuring Simon Axon, Global Financial Services Industry Strategist at Teradata Learn practical steps and tools for preparing to launch AI projects
You can watch the replay here
Tuesday, April 15, 2025 | 18:00 CET
GenAI is Reshaping Banking-as-a-Service — Four Real-World Use Cases Featuring Guillaume Colley, Director of AI and Analytics at Cavallo Discover four real-world applications of generative AI in banking-as-a-service
Wednesday, April 23, 2025 | 14:00 CET
Common Patterns in use cases of GenAI in Banking Featuring Martin Moeller, AI & GenAI for Financial Services across Microsoft EMEA Explore practical implementation patterns for generative AI in banking
While we’re starting with AI, our community will expand to cover other critical areas including compliance, cybersecurity, onboarding, and risk management. The goal is to facilitate knowledge sharing across financial services verticals that face common challenges but don’t directly compete.
Join the Conversation
The Financial Services Innovation Hub is currently free to join. Members receive daily updates about events and conversations, and can initiate discussions on topics that matter to them. We invite you to:
- Sign up for the community
- Share questions about upcoming events
- Suggest topics you’d like to see covered
- Recommend speakers or experts you’d like to hear from
As I mentioned during our LinkedIn Live, “The riskiest thing to do, is to do nothing.” In today’s rapidly evolving financial landscape, successful implementation is the difference between thriving and being left behind.
[Join the Financial Services Innovation Hub today]
