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2007 Top 10 Business Drivers, Strategic Responses, and IT Priorities for European Banking & Payments

Published by: TowerGroup

Published: Nov. 6, 2006 - 10 Pages


Table of Contents



TowerGroup Take-Aways

Report Coverage

The Top 10

Exhibit 1 Top 10 Business Drivers, Strategic Responses, IT Priorities for European Banking and Payments (2007)

Business Drivers for European Banking and Payments

1. Regulation

2. Metrics

3. Nontraditional competition

4. Contracting margins

5. Pricing transparency

6. Industry consolidation

7. Revenue optimization

8. Segmentation

9. Risk management

10. New partner profiles

Strategic Responses to Business Drivers

1. Adopting a proactive stance toward regulation and legislation

2. Sharing information within the institution

3. Restoring value to products through CRM

4. Maximizing investment

5. Realigning prices

6. Reviewing best practices

7. Examining payments as a business

8. Improving knowledge of customers' behaviors

9. Implementing standards

10. Assessing partners

Technology Priorities for European FSIs

1. Centralized regulatory and compliance monitoring

2. Mapping of CRM to organizational structure

3. Mapping of CRM to customer touchpoints

4. Third-party processing

5. Product rationalization

6. Core systems audit

7. Service-oriented architecture as the basis of a payments and institutional "hub"

8. Branch rationalization

9. Relationship-based pricing and dynamic product bundles

10. Product/systems enhancement

Summary

Abstract

This TowerGroup Research Note provides insight into the top 10 business trends driving the European banking and payments industry, the top 10 strategic responses we anticipate from those firms, and the resultant top 10 technology initiatives. The Research Note also provides perspective on how those drivers and technology initiatives have evolved over time.

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