Back-office transformation: Closing the gap between ambition and action

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A global survey of more than 500 BFSI executives — conducted by HFS Research in partnership with Iron Mountain — revealed a high intent to modernise but slow progress in execution.

3 September 20254 mins

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Back-office transformation in banking, financial services, and insurance (BFSI) has become a race against time. Advances in AI, evolving regulations, and changing customer expectations are redefining the operational core. A global survey of more than 500 BFSI executives — conducted by HFS Research in partnership with Iron Mountain — revealed a high intent to modernise but slow progress in execution.

The harsh reality

7 truths leaders can’t ignore

BFSI leaders have clear digital ambitions, but the reality on the ground tells a different story.

Here’s where the gap is widest:

The path forward

Turning ambition into execution and execution into advantage

Radical transformers show what’s possible: faster growth, bolder investment, sharper focus on customer experience, and a workforce ready for the AI era. The takeaway is clear. Transformation is not just about efficiency; it’s about building a growth engine.

Those who act now will close the ambition–execution gap and define the future of the BFSI back office.

Read the full report for findings, benchmarks, and actionable frameworks to accelerate your back-office transformation.

Or explore how Iron Mountain can help.