The 2021 State of Application Strategy Report: Finanical Services Edition 

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As application modernization accelerates, AI-assisted business is becoming the norm

We all know how much the world has changed in the last year. As the results of the most recent F5 State of Application Strategy survey make clear, however, the COVID-19 pandemic also vastly accelerated global digital transformation. Progress that might normally have taken a decade has leapt forward, with financial services organizations distinctly leading the advance toward a more data-driven future.

Key findings from respondents in the financial services industry show:

  • Application modernization has accelerated: Financial services organizations reported a 13% jump in automation and orchestration efforts alongside a huge 40% increase in application modernization.
  • Complex multi-cloud strategies are common: 87% of respondents juggle traditional and modern applications and architectures.
  • Organizations have data but lack insights: 98% say they’re lacking the insights they need.
  • AI-assisted business and automation are improving adaptability: 81% of financial services organizations are already using AI or plan to by the end of 2022.
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