This report presents the findings from a survey of 131 retail banks regarding their Information & Communications Technology (ICT) investment priorities. The survey investigates the core technologies which retail banks are investing in, including the likes of enterprise applications, security, mobility, communications & collaboration, and Cloud Computing.
Recognize retail banks strategic objectives with regards to their ICT investments.
Identify retail banks investment priorities based on their budget allocations across core technology categories such as enterprise applications, security, mobility, communications & collaboration, and Cloud Computing, etc.
Learn about the drivers that are influencing retail banks investments in each technology category.
Establish how retail banks IT budgets are currently allocated across various segments within a technology category.
Gain insight into how retail banks plan to change their ICT budget allocations across various segments within a technology category.
Why was the report written?
In order to provide deeper insights into retail banks ICT investment priorities and strategic objectives.
What is the current market landscape and what is changing?
Kables survey finds that a significant proportion of retail banks have already invested in enterprise applications and these solutions are expected to receive higher investments in the next two years.
What are the key drivers behind recent market changes?
Demand for applications such as financials, CLM, and CRM applications is on the rise, which is making retail banks focus heavily on enterprise applications. Moreover, in an effort to modernise and automate their banking operations retail banks are investing in enterprise applications.
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 investment priorities. Very few IT analyst houses will have interviewed 130+ ICT decision makers in retail banking industry in H2 2012.
Investment in security products and services is imperative for retail banks as any vulnerability in their existing systems can cause huge financial losses for their customers and damage their reputation. It is clear from the survey that X% of retail banks already invested in security technologies.
The ongoing modernisation of retail banks, along with increasingly complex ICT implementations, is making ICT infrastructure within the sector harder to manage. Consequently, to minimise the complexity of their ICT infrastructure, retail banks are making significant investments in IT systems management.
It is interesting to note that at least 62% of retail banks are planning to invest in all of the green technologies through to the end of 2014, signifying the importance they are placing on reducing their carbon footprint and the impact of ICT on the environment.
Cloud computing is currently receiving lower investments from the retail banking sector, where it has an adoption rate of only 79%. Many banks are still reluctant to entrust their sensitive customer and financial data to public cloud services run by third parties.
Retail banks have been investing in enterprise content management to capture unstructured content and integrate it with their core business applications. Retail banks are also investing in content management solutions to manage data more effectively and meet regulatory compliance and business needs.