Technological disruption is shaking up the financial services industries in a big way. Right now, we’re seeing this disruption change how payments, lending, and advisory services are conducted—and that’s only the tip of the iceberg of what’s to come.

The financial services industries are ripe for disruption. For many organizations, the move from physical to digital has been perceived as too difficult and/or risky. This has resulted in financial institutions only implementing minor, incremental changes or giving up on digital all together. The lack of innovation has made these institutions a target for agile, digital companies.

While turning an entire bank’s business model on its head seems daunting, it needs to happen for one reason: the customers. More personalized and convenient products, services, and experiences are in demand right now and digital companies are more than ready to step in and take over.

The financial organizations that know how to leverage digital to deepen relationships with the consumers will be golden. The ones that don’t will be left scavenging the crumbs or may simply disappear—remember what happened to Blockbuster Video when the video rental industry was disrupted? It’s time to change or go gentle into that good night.

For those who aren’t ready to give up the fight, there are several FinTech digital transformation strategies and guiding principles you can put into place today. Embracing the following will help you remain relevant and competitive in an increasingly digital world.

Develop a strategic roadmap and ensure leadership buy-in

It’s not advisable to go digital without a solid game plan. The companies who don’t have a plan are most likely to give up because they’re not seeing the changes or results they were hoping for.

Instead, map out your digital strategy and involve the leadership of your company in the process. In order for this to work, you need executive-level support to enforce the necessary changes.

Get rid of silos by focusing on the customer

Customers are looking for end-to-end digital experiences from financial institutions. An organization that works in silos will not be fluid enough to deliver the experiences your customers are looking for.

You can break down silos by remembering that the customers—not the productivity of individual departments—are at the heart of the organization.

Transform the customer experience

Your customers are looking for connected, seamless, and omni-channel services. They want to be able to start a conversation on a laptop and then finish a transaction on their smartphone—and your company needs to be there to provide it or they will look for it elsewhere.

Leverage data to deliver more

Data can tell you everything about your customers, and their wants, needs, desires, and behaviors. When you leverage data to make informed business decisions, you’ll be in a better position to provide customers with the integrated, personalized, and contextualized experiences they’re looking for.

Re-architect your technology stack

A lumbering financial organization can’t compete with the quick technology output of digital companies. Financial organizations need to reassess and realign their current technology stacks to ensure they’re customer-centric, adaptable, and agile.

Promote a culture of innovation and experimentation

Any suggested change to an organization may be resisted. Instead of instating new policies and procedures, it’s better to promote a new digital strategy through innovation and experimentation. Change is more likely to be embraced in an innovative culture.

Leverage digital to engage customers in new and relevant ways

Incorporating a digital strategy in every facet of your organization is your best bet to staying one step ahead of disruptors. When you embrace a digital mindset in your company, the above strategies unfold almost naturally, and help you serve your customers needs.