ICT Media

ICT budget and staffing trends in Retail Banking - Enterprise ICT investment plans

  • KAB110311
  • 33 Pages
  • July 2013
  • ICT Media
Synopsis
This report presents the findings from a survey of 131 retail banks regarding their Information & Communication Technology (ICT) budgets and staff allocation. The survey investigates how retail banks currently allocate their ICT budgets across the core areas of ICT spend, namely hardware, software, IT services, communications and consulting.
Scope
Understand how ICT budgets are set to change in 2013 in terms of their overall size.

Appreciate how budgets are allocated across the core elements of ICT spend, including hardware, software, services, communications and consulting.

Learn how ICT money is being spent in areas such as the data centre, applications, IT management and the network.

Establish how IT staff are typically allocated within retail banks.

Gain insight into with whom retail banks plan to spend their ICT money.
Summary
Why was the report written?
In order to provide a depth of insight into ICT vendors and service providers potential customers.

What is the current market landscape and what is changing?
ICT expenditure is a significant portion of operational spending in the retail banking industry. With business process streamlining a key priority, retail banks are increasing their ICT spending to improve their operational efficiency and customer service by making investments in the likes of enterprise applications.

What are the key drivers behind recent market changes?
Trends such as online banking, mobile banking, and personalised services are primarily influencing the ICT investments in this sector. Increasing compliance regulations are also compelling retail banks to invest in content management and IT security solutions.

What makes this report unique and essential to read?
Kable Global ICT Intelligence has invested significant resources in order to interview CIOs and IT managers about their IT Budgets. Very few IT analyst houses will have interviewed 130+ ICT decision makers in the retail banking industry in H2 2012.
ReasonsToBuy
As large volumes of transactional content generated on a daily basis, retail banks will continue to allocate the largest proportion of their total ICT budgets to their data centres in 2013.

Retail banks ICT budget allocation for internal development and maintenance is expected to remain high in 2013 and 2012, with most banks strengthening their internal ICT infrastructure in order to improve and automate their business processes.

Retail banks are also allocating a significant proportion of their hardware budgets to security in order to deal with the growing incidences of cybercrime and prevent the loss of business critical data as well as customers crucial financial information.

Kables survey shows that retail banks are planning to increase their software budget allocations in order to improve their business efficiency and customer service functions.

Retail banks spending on application development and integration services largely revolves around using IT services providers to make key architectural changes and upgrade their core banking platforms.
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