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Business transformation in European financial services
Datamonitor, Jan 2004, Pages: 45


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Introduction

Business transformation is the biggest single project that a financial services institution can undertake, requiring far-reaching process and technology change as well as a strategic rethink across the organization. This report investigates the drivers for transformation, the critical factors for project success, and the resulting implications for the IT vendor market.

Scope

Based on in-depth interviews with IT services providers, ISVs and end-users

Covers the retail banking and insurance sectors in Western Europe

Reasons to Purchase

Understand what drives FSIs to undertake business transformation, likely approaches and timelines

Benchmark your offering against those of your competitors, and understand the factors that are critical for success

Use The robust market sizing forecasts to accurately pinpoint market opportunities

Highlights

Business transformation is moving up the decision-making agenda as European FSIs recognize the importance of streamlined, flexible systems and processes to future growth and efficiency. This will create a market opportunity of $1.6bn by 2006 as FSIs seek to replace inflexible legacy systems and re-engineer core revenue-generating processes.

The emerging sweetspot for business transformation projects will define the future of the IT services market in European financial services. At present, only a select few IT services providers have the necessary domain, process, technology and BPO capabilities to deliver a strong transformation message.

Region: Europe


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