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Core systems strategy in retail banking (Review Report)

Published by: Datamonitor

Published: Dec. 19, 2007 - 46 Pages


Table of Contents


Overview
Catalyst
Summary
Methodology
Executive Summary
Introduction
Industry pressures & drivers around core systems (Market Focus)
Core systems strategies in retail banking (Strategy Focus)
Technology strategies & best practice in core transformation (Technology Focus)
Core banking strategies in retail banking (Databook)
Table of Contents
Table of figures
Table of tables
Industry pressures & drivers around core systems (Market Focus)
Summary
A challenging macroeconomic environment is putting pressure on margins
Margin pressure is being driven up as markets mature
Interest rate rises are having a mixed impact
The US sub-prime crisis will have a lasting impact
Industry consolidation and competitive pressures require business agility
New entrants are highlighting the shortcomings of legacy systems of incumbent banks
A core systems strategy is key for banks with acquisitive appetites
Flexibility is a key success factor in an increasingly demanding market
Product time to market is increasingly important as competition grows
Customer relationship management can be an important differentiator in an commoditizing market
Regulations are acting as a catalyst for core systems investment
Banks are struggling to meet the increasing regulatory burden with legacy core systems
Regulatory compliance can bring business benefits
SEPA is set to drive pan-European banking
Core systems strategies in retail banking (Strategy Focus)
Summary
A customer-centric approach will be a strategic priority for retail banks going forward
Customer service underpins customer retention and cross-sales
Product origination should be consistent across channels
Flexibility will be key for banks seeking to move to a future proof platform
Product development and time to market to support a customer-centric focus
Scalability and breadth to support future growth opportunities
Acquisitive banks should develop a framework for incorporating new institutions
Expanding into new geographies offers the opportunity to leverage synergies across borders
Core systems investments should support future regulatory developments
Cost control and operational efficiency will be the foundations of core renewal investments
Total cost of ownership remains a key issue on the IT side
Improving operational efficiency will improve organizational flexibility
Banks will start to consider alternative sourcing strategies to further improve flexibility
Information management and internal controls need to be built into core systems platforms
Information management is essential to support and improve both the back and front office operations
Audit and control should be addressed from an enterprise-wide perspective, and rooted in the core system
Technology strategies & best practice in core transformation (Technology Focus)
Summary
Centralization is the key to an efficient, customer-centric bank
Centralization helps banks take steps towards improving customer-centricity and operational efficiency
Moving to a centralized architecture also benefits organizational audit and controls
For banks with a pan-regional presence, moving to a centralized, common platform is an option
A flexible, real-time architecture will enable banks to address their business challenges
Moving to real-time operations will increasingly be a strategic imperative
Standardization will facilitate a componentized approach
Service oriented architecture and process rationalization will enable process excellence
A parameterized approach to product origination offers greater flexibility
Sourcing options are wide as banks move away from developing in-house
Banks have a wider range of core systems renewal options than ever before
Re-architecting enables banks to bring their proven systems responsive to the modern-day environment
Replacement is becoming more acceptable as an option
Core banking strategies in retail banking (Databook)
Introduction
European retail banking core systems IT spend by country, 2006 - 2010
European retail banking core systems IT spend by source, 2006 - 2010
Benelux retail banking core systems IT spend by source, 2006 - 2010
French retail banking core systems IT spend by source, 2006 - 2010
German retail banking core systems IT spend by source, 2006 - 2010
Italian retail banking core systems IT spend by source, 2006 - 2010
Nordic retail banking core systems IT spend by source, 2006 - 2010
Other Western European retail banking core systems IT spend by source, 2006 - 2010
Spanish retail banking core systems IT spend by source, 2006 - 2010
Swiss retail banking core systems IT spend by source, 2006 - 2010
UK retail banking core systems IT spend by source, 2006 - 2010
North American retail banking core systems IT spend by country, 2006 - 2010
North American retail banking core systems IT spend by source, 2006 - 2010
US retail banking core systems IT spend by source, 2006 - 2010
Canadian retail banking core systems IT spend by source, 2006 - 2010
APPENDIX
Definitions
Core system
Internal spending
External spending
Hardware
Outsourcing
Infrastructure software
Application software
Professional services
Systems integration
Further reading
Ask the analyst
Datamonitor consulting
Disclaimer
List of Tables
Table 1: European retail banking core systems IT spend by country, 2006 - 2010
Table 2: European retail banking core systems IT spend by source, 2006 - 2010
Table 3: Benelux retail banking core systems IT spend by source, 2006 - 2010
Table 4: French retail banking core systems IT spend by source, 2006 - 2010
Table 5: German retail banking core systems IT spend by source, 2006 - 2010
Table 6: Italian retail banking core systems IT spend by source, 2006 - 2010
Table 7: Nordic retail banking core systems IT spend by source, 2006 - 2010
Table 8: Other Western European retail banking core systems IT spend by source, 2006 - 2010
Table 9: Spanish retail banking core systems IT spend by source, 2006 - 2010
Table 10: Swiss retail banking core systems IT spend by source, 2006 - 2010
Table 11: UK retail banking core systems IT spend by source, 2006 - 2010
Table 12: North American retail banking core systems IT spend by country, 2006 - 2010
Table 13: North American retail banking core systems IT spend by source, 2006 - 2010
Table 14: US retail banking core systems IT spend by source, 2006 - 2010
Table 15: Canadian retail banking core systems IT spend by source, 2006 - 2010
List of Figures
Figure 1: European banks technology priorities
Figure 2: European banks business priorities
Figure 3: European banks' priorities for enhancing business growth through technology
Figure 4: Approach to core systems strategy over next years in Europe
Figure 5: European retail banking core systems IT spend by country, 2006 - 2010
Figure 6: European retail banking core systems IT spend by source, 2006 - 2010
Figure 7: Benelux retail banking core systems IT spend by source, 2006 - 2010
Figure 8: French retail banking core systems IT spend by source, 2006 - 2010
Figure 9: German retail banking core systems IT spend by source, 2006 - 2010
Figure 10: Italian retail banking core systems IT spend by source, 2006 - 2010
Figure 11: Nordic retail banking core systems IT spend by source, 2006 - 2010
Figure 12: Other Western European retail banking core systems IT spend by source, 2006 - 2010
Figure 13: Spanish retail banking core systems IT spend by source, 2006 - 2010
Figure 14: Swiss retail banking core systems IT spend by source, 2006 - 2010
Figure 15: UK retail banking core systems IT spend by source, 2006 - 2010
Figure 16: North American retail banking core systems IT spend by country, 2006 - 2010
Figure 17: North American retail banking core systems IT spend by source, 2006 - 2010
Figure 18: US retail banking core systems IT spend by source, 2006 - 2010
Figure 19: Canadian retail banking core systems IT spend by source, 2006 - 2010 "


Abstract

Introduction

Compliance pressures, the need for faster product time-to-market and organizational agility are driving the need for banks to re-vamp the back office. The challenge is for banks to tackle the scale of these projects and implement future-proof solutions with the minimum of disruption to everyday operations.

Scope

Covers retail banks in Western Europe and North America Examines the market, strategic and technology drivers impacting retail banks core systems technology investments Forecasts European and North American retail banking core system IT spend until 2010

Highlights

The wider macroeconomic environment is placing increasing pressure on banks. Rising interest rates, inflation and stock market shocks are all contributing to a more complex market for financial institutions. Banks that have efficient, flexible back office operations will triumph in the long term. Over recent years banks have become increasingly acquisitive in order to sustain growth, driving both consolidation in domestic markets as well as cross-border activity, particularly in high-growth markets. As a result, many banks have begun to address the core systems implications of their M&A activities. Many vendor solutions are now sophisticated and flexible enough to meet the complex requirements of even top-tier banks straight out of the box. As a result, who builds, hosts, develops and maintains core systems is becoming more of a sourcing issue rather than of strategic competitive advantage.

Reasons to Purchase

Gain visibility into the dynamics of the retail banking core systems market Gain market insight to assist in your strategic planning and go-to-market strategy.


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