T H E F I N A N C I A L S E R V I C E S C I O O F 2 0 2 5 | 9
Converting IT from
Cost Center to Profit Center
Cost savings has long been the number-one driver of IT innovation. But that's changing.
Across industries, today's CIOs are focusing more on revenue-generating opportunities, as
technology is increasingly viewed as a key driver of business growth rather than just a way
to squeeze inefficiencies out of operations. Within one year, 89 percent believe they will
have revenue-generating responsibilities in addition to their traditional IT ones.
For example, banks can boost existing customer engagement by providing adjacent
services to traditional banking products, such as accounts-receivables management and
cash-flow analyses to small or mid-sized businesses. Additionally, most financial services
firms have immensely rich stores of demographic and customer-purchasing data. This data
can be used for value added services, and analytics can be converted into important
sources of new revenue and upsell opportunities.
In short, the CIOs surveyed expect the technical expertise they develop internally will be
useful in the market both to customers and to other financial services companies going
through digital transformations.
$
€
€
$
Within one year, nearly
89 percent of financial
services CIOs surveyed
expect to have
revenue-generating
responsibilities in addition
to their traditional IT
responsibilities.
89%
34%
