2008 Trends To Watch: Retail Banking Technology
Datamonitor, February 2008, Pages: 15
Technology markets are changing fast. This brief is essential reading for you to identify and track the key forces shaping the prospects for your business. In this piece, The Director of Analysis specializing in retail banking technology will outline the trends in your market, explain how this has shaped our research agenda for 2008
Scope
- Coverage across the North American, Latin American, Central and West European markets
- Industry, business strategies and IT priorities in retail banking for 2008
Highlights of this title
The need for capital will see a race for deposits and customer retention, with the focus back on prime lending driving the need for stronger pricing personalization, push for product bundling and focus on product innovation
Online banking will see renewed focus, with security, enhancing the user experience, and Web 2.0 core drivers
Branch will remain top priority, with focus on servicing functionality and process consistency across channels
Key reasons to purchase this title
- This brief is essential reading for you to identify and track the key forces shaping the prospects for your business.
- TheDirector of Analysis in retail banking will outline the trends in your market, explain how this has shaped our research agenda for 2008.
OUR VIEW 1
CATALYST 1
SUMMARY 1
2008 TRENDS TO WATCH: RETAIL BANKING TECHNOLOGY 2
Top business issues facing the retail banking market 2
Regulatory attention to fee levels, tightening lending criteria and a weakening economic outlook will drive lower operating income growth in 2008 2
The sub-prime crisis has driven credit tightening throughout the banking sector, not just the US. 2
The main sources of retail banking revenue growth in 2006-7 are not present in 2008 3
Further top-line pressure will come from regulatory attention to penalty fees, particularly in the UK market 4
Need to maintain internal funding will see focus on deposit growth and real customer retention strategies 4
Competition in prime lending will drive improved pricing optimization, product bundling and innovation 5
Impact of 2008 industry outlook on IT will be a focus on efficiency or cost reduction over revenue growth 6
IT investment for Central Europe and Latin America banking markets is also dominated by cost reduction 7
Branch will remain top priority, with focus on servicing functionality and process consistency across channels 8
Branch investment will shift from infrastructure & sales effectives to servicing & origination 8
Online banking will see renewed focus, with security, enhancing the user experience and Web 2.0 core drivers 9
Banks are investing in second generation online platforms 9
The potential of Web 2.0, from both a threat and opportunity perspective, is driving R&D in this area 10
Compliance will continue to capture development spend, driven by security, operational risk management and the second wave of anti-money laundering investment 10
IT security remains a painpoint and driver for investment across all banking markets 11
West European banks will be focused on operational risk management (ORM) for 2008 11
There will be a second wave of investment in AML in 2008 around detection and process automation 12
DATAMONITORS TAKE 12
The banking environment will drive IT investment conservatism in 2008 12
Infrastructure will be an IT spend growth area in 2008 driven by data center modernization 12
Vendor marketing & sales messages need to switch back to hard benefits & execution credibility 13
APPENDIX 15
Definitions/ abbreviations 15
Methodology 15
Further reading 15
Ask the analyst 15
List of Figures
Figure 1: US banking loan provisions and net charge-off quarterly data 2004 -2007 3
Figure 2: Weaker industry outlook will drive focus on cost reduction in WE and efficiency in NA 6
Figure 3: Cost reduction is top objective in Central European and Latin American regions 7
Figure 4: Branch remains investment growth area for 2008 despite shift in IT strategy onto cost reduction 8
Figure 5: IT security for all regions, AML in NA and ORM in W Europe as compliance focus areas 11
Figure 6: Security and infrastructure will be investment growth areas for 2008 13
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