Vision 2020: What Will Retail Banking Technology Look Like in 10 Years?

Introduction

Predicting the medium-to-long term future is a delicate, yet surprisingly difficult, task. On the one hand, futurology positively encourages unbridled exuberance where retail banking is concerned. On the other hand, it's easy to play safe, and suggest that the sector will remain fundamentally unchanged a decade from now. Ovum’s view is that the most likely outcomes will lie somewhere in-between.

Features and benefits

• Gain insight into the trends that Ovum believes will shape the development of the retail banking industry over the next decade.
• Understand how retail banks will make pragmatic decisions to leverage technology in order to achieve key operational objectives.

Highlights

From a market focus perspective, when compared to 2010, the environment that retail banks operate will not look vastly different in 2020, although macro-economic, regulatory, and commercial pressures will have varying degrees of influence.From a business focus perspective, with their wings severely clipped by governments, central banks and regulators following the industry crisis of 2008/09, the years between 2010 and 2020 will be characterized by banks taking a more considered and risk-averse commercial approach.From a technology focus perspective, retail banks will demonstrate a preference to make technological enhancements that deliver tangible operational and financial improvements, and displaying a discernable degree of pragmatism when it comes to separating genuinely useful from gimmick.

Your key questions answered

• Learn what the retail banking competitive landscape will resemble in 2020.
• Discover the technologies that retail banks will be reliant upon in order to serve an increasingly diverse customer base.