In collaboration with analysts from Datamonitor's Financial Services business unit, in this brief Ovum's Financial Services Technology team outlines the key changes in the retail banking industry, explains which trends will have the biggest impact, and analyses the implications and opportunities of these developments for both retail banks and providers of technologies and services.
Scope
* This brief outlines business issues and technology enablers that are expected to affect the retail banking industry during 2010.
* The report covers developments in North American and European retail banking.
Highlights
Having endured a torrid 2009, the retail banking sector will continue to be impacted by several significant business issues during 2010.
In order to address the aforementioned issues, Ovum believes technology plays a fundamental role in helping retail banks make significant progress on the road to recovery during 2010.
Reasons to Purchase
* Understand the key operational trends to watch during 2010.
* Gain insight into the technologies that retail banks must either invest in or extract more value from in the post-financial crisis world.
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- http://www.fastmr.com/
Report Table of Contents:
Overview
CATALYST
SUMMARY
OVUM VIEW
analysis
BUSINESS TRENDS AND TECHNOLOGY ENABLERS
THE RETAIL BANKING SECTOR WILL REMAIN UNDER GOVERNMENT SCRUTINY
In 2010, retail banks will feel the direct effects of political intervention
WEAK GDP GROWTH WILL HAMPER THE RECOVERY OF RETAIL BANKS IN 2010
Governments will continue to provide fiscal stimulus packages during 2010
Despite the IMF raising its 2010 forecast, growth will remain weak by historic standards
SEVERAL MAJOR INSTITUTIONS WILL BE FORCED TO BREAK-UP DURING 2010
Structural separation activities and asset disposals will continue during 2010
Additional industry consolidation will continue by means of mergers and acquisitions
NEW BANKS WILL APPEAR IN 2010, BUT REALITY WON'T MATCH THE HYPE
New entrants to retail banking could potentially disrupt the industry status quo
In reality, new banks are already too late to capitalise on opportunities in the market
A MASS EXODUS WILL NOT OCCUR, BUT SERVICE IMPROVEMENTS ARE VITAL
ACTIONS
TECHNOLOGY RECOMMENDATIONS FOR INSTITUTIONS IN THE RETAIL BANKING SECTOR
Better decision-making and risk management demands renewed focus on key technologies
Retail banks must not lose sight of the importance of delivering an excellent experience
Continuing consideration should be given to additional IT outsourcing opportunities
RECOMMENDATIONS FOR PROVIDERS OF TECHNOLOGIES AND SERVICES
Providers should articulate their value in improving decision-making and risk management
Demonstrating a flexible, innovative approach to reduce total cost of ownership is essential
Provision of technologies and services to new entrants offers fresh, if limited, opportunities
APPENDIX
METHODOLOGY
FURTHER READING
LEAD AUTHOR
CONTRIBUTING AUTHORS
OVUM CONSULTING
DISCLAIMER
About Datamonitor
The Datamonitor Group is a world-leading provider of premium global business information, delivering independent data, analysis and opinion across the Automotive, Consumer Markets, Energy & Utilities, Financial Services, Logistics & Express, Pharmaceutical & Healthcare, Retail, Technology and Telecoms industries. Datamonitor's market intelligence products and services ensure that you will achieve your desired commercial goals by giving you the insight you need to best respond to your competitive environment. View more research from Datamonitor at http://www.fastmr.com/
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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