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Digital Banking Transformation - Thematic Research

January 2021 | 42 pages | ID: D0369B7D9DE0EN
GlobalData

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Digital Banking Transformation - Thematic Research

Summary

Digital banking comprises a vast ecosystem of provider types and business models. This report looks specifically at whether incumbent banks can digitize at sufficient pace and scale to protect existing customer numbers and revenue pools.

At the height of the pandemic, consumer behavior began to outpace the channel capabilities of slow-moving incumbent banks, reinvigorating providers around digital transformation. However, there are clear tensions between tactical time-to-market priorities and the longer-term tech changes required to emancipate providers from legacy. Institutions that focus on knowing their customer - not just from a regulatory perspective, but in terms of financial impact, behaviors, and prospects - will be best placed to succeed under conditions of expedited change. This will require the operational agility to recalibrate customer personas, risk models, and channel propositions.

Scope
  • Banks’ channel migration efforts have not met expectations. Many commentators expected mobile to quickly displace all other channels, with attendant risks that consumer behavior could outpace banks’ channel capabilities. But this situation has not transpired.
  • Banks that view digital transformation as building new capabilities - around cloud, API, big data, etc. - tend to score better in terms of customer satisfaction, cost reduction, and operational agility than those that have merely digitized existing analog processes.
  • Leading institutions have prioritized core decision-making processes. Credit-related activities typically cut across front-office, risk management, and back-office procedures; integrating these actions into one straight-through process offers the biggest efficiency gains.
Reasons to Buy
  • Understand key technology, macroeconomic and political, and regulatory trends characterizing digital transformation efforts at incumbent banks.
  • Access the latest consumer survey data on evolving channel behaviors, provider preferences, and product holdings.
  • Identify leading digital transformation efforts based on cost/income and customer satisfaction metrics.
  • Access firm-level/case study insight on successful digital transformation efforts by incumbents.
Table of Contents
Executive summary
Players
Thematic briefing
Digital transformation
Trends
Technology trends
Macroeconomic and political trends
Regulatory trends
Industry analysis
Mergers and acquisitions
Timeline
Value chain
Core banking/legacy systems (transaction processing)
Digital banking platforms (front-end channels)
API management/strategy (middleware)
Money management/data infrastructure
Niche fintech partners
Companies
Banks
Vendors
Sector scorecards
Banking sector scorecard
Who’s who
Valuation screen
Glossary
Further reading
GlobalData reports
Our Thematic Research methodology
About GlobalData

COMPANIES MENTIONED

Amazon
Facebook
Apple
Alphabet
Tinkoff Bank
AIB
Capital One
WeBank
Mbnk
Monzo
NatWest
RBS
Danske Bank
DBS
TSB
BBVA
Citibank
mBank
Revolut
Credit Agricole
Barclays
La Caixa
CBA
UniCredit
HSBC
Nordea
Intesa San Paulo
USAA
BNP Paribas
Deutsche Bank
ING
NU Bank
Bank of America
BMO
RBC
JPMorgan Chase
Lloyds
Temenos
Finastra


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