The Onus of E-Business.

• Author: Marshall, Jeffrey
• Position: Brief Article

Compared to their counterparts in other industries, financial services executives are feeling a lot of e-pressure.

In a recent survey by KPMG International, 64 percent of the 45 senior-level financial services executives polled said that e-business is transforming their role within their industry, and 42 percent said it is redefining their care business. These responses were very high compared to those from six other global industries; cross-industry averages were 57 percent (role within the industry) and 30 percent (definition of core business), respectively.

When asked about the potential technological barriers to c-business implementation, 62 percent of the financial services executives ranked security and privacy of transactions very high, compared to the all industries' average of 40 percent. The top barrier cited was the need to reengineer business processes, at 67 percent, which was a high response among all industries.

Additionally, 40 percent of financial services respondents (compared to the cross-industry average of 23...