Worldwide Financial Services 2010 Top 10 Predictions: Where to Next? : Market Research Report

Worldwide Financial Services 2010 Top 10 Predictions: Where to Next?

Published by: IDC

Published: Jan. 7, 2010 - 21 Pages

Table of Contents
Predictions
In This Report
Situation Overview
Four Key Themes in 2010
Restoring Trust and Confidence
True Relationship Management
Redefining the Business Model
Innovation
Future Outlook
Prediction #1: Globally, the Number of Banking Institutions Will Shrink by 4%
Prediction #2: Delivery Is King: Winning Banks Will Focus on Delivering Information Back to the User
Prediction #3: Risk, Compliance, and Regulation Will Continue to Consume the Resources of Financial Institutions Globally
Prediction #4: Banks Will Redefine Their Business Models Seeking Profitability in This New Reality
Prediction #5: Capital Markets Financial Regulation and Reporting Will Have More Bark than Bite
Prediction #6: Second- and Third-Tier Capital Market Firms Will Rise in Importance and Sophistication
Prediction #7: The Revolution in How We Communicate Will Finally Hit Insurers Full Force
Prediction #8: Insurers Will Understand How to Wring Efficiency Out of IT Enterprise Initiatives
Prediction #9: Global Financial Institutions Will Begin Consolidating Risk Management Data Warehouses, Reallocating Capital Toward Risk Data Integration Solutions
Prediction #10: The FinTech Industry Will Consolidate in 2010, with Enterprise Vendors (That Are Benefiting from a More Diversified Revenue Stream) Able to Acquire the Assets of FinTech Specialists
Essential Guidance
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Related Research
Synopsis
Figure: Four Key Financial Services Themes in 2010

Abstract

This IDC Financial Insights report presents our top 10 predictions for global financial services. As we started 2009, there seemed to be no end in sight to the issues facing financial services. As we look forward to 2010, however, there appears to be signs that the worst is behind us. Nevertheless, we believe the industry will continue to face challenges as it addresses lingering issues from the past 24 months.

According to David Potterton, vice president of Global Research at IDC Financial Insights, "The focus in 2010 will be on restoring trust and confidence back to the financial sector. This means financial institutions will need to redefine their business models with an emphasis around the customer in order to get our industry back on track."

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