2011 Trends to Watch: Retail Banking Technology

Date: October 22, 2010
Pages: 16
Price:
US$ 1,895.00
Publisher: Ovum
Report type: Brief Review
Delivery: E-mail Delivery (PDF)
ID: 2BAD4E698B0EN
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2011 Trends to Watch: Retail Banking Technology
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Introduction

The retail banking landscape will evolve during 2011 as institutions continue to make post-industry crisis recovery. While the competitive environment will not alter radically, 2011 will witness a renewed regulatory focus, further M&A activities prompted by additional asset disposals, and changes among the upper echelons of executive personnel as new CEOs take control.

Features and benefits
  • Gain insight into the business trends that Ovum believes will characterize the retail banking sector in 2011.
  • Understand the technology enablers that will help retail banks achieve their operational objectives.
Highlights

In the retail banking sector, 2009 was about emergency stabilization measures and tightening risk management practices. 2010 involved nursing balance sheets back to health in order to meet capital adequacy requirements and – for banks in the EU – pass stress tests.In 2011 institutions will be required to perform a delicate balancing act to meet the needs of the regulator without impeding business progress, stifling innovation and adversely impacting customer service at a time when trust will remain fragile.

Your key questions answered
  • What will retail banks need to do in order to remain competitive in 2011 and beyond?
  • What major issues are on the agenda for retail banking CIOs in 2011?

SUMMARY

Catalyst
Ovum view
Key messages

BUSINESS TRENDS AND TECHNOLOGY ENABLERS

The retail banking landscape will continue to evolve during 2011

RETAIL BANKS MUST CONTINUE TO MAINTAIN STABILITY

A delicate balancing act
Retail banking is progressing steadily along the road to recovery
In 2011 CIOs will be under pressure to integrate IT systems gained by acquisition
Simplification of IT infrastructure and processes will be a major theme in 2011
Retail banks will need to improve trust among consumers in 2011

BANKS WILL SEEK WAYS TO OPEN NEW REVENUE STREAMS

Meeting the needs of all customers
Retail banks are at an inflection point, and new approaches are required

UNDERSTANDING AND PREPARING FOR NEW REGULATIONS

New policies and wide-reaching changes
At the global level, banks will prepare for the implementation of Basel III
At regional level, regulatory guidelines are being tightened
At national level, governments are taking steps to improve scrutiny

RECOMMENDATIONS

Overview
Recommendations for institutions in the retail banking sector
Data governance is key, especially for institutions expanded by acquisition
New approaches to IT planning and investment are needed in 2011
Simplifying the IT infrastructure will reduce costs and optimize processes and systems
Recommendations for vendors serving the retail banking sector
Vendors need to be capable of adjusting to new regulatory requirements
Master data management specialists are well positioned to help retail banks
Alternative views

2011: THE CALM BEFORE THE STORM?

APPENDIX

Further reading
Methodology
Author
Ovum Consulting
Disclaimer

TABLES

Table: Business trends and technology enablers for retail banking in 2011

FIGURES

Figure: The majority of consumers do not completely trust retail banks
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