Business Strategy: The Next 10 Years of IT Disruption in Retail Banking
This IDC Financial Insights report describes those technologies that will impact banking in the next 10 years and describes how banks can leverage those disruptions to create new value propositions that will, hopefully, help the institution reevaluate its business models before the disruptive technologies affects it negatively.
Unlike innovation, disruption can be either an opportunity for banks or a destructive force that cripples part of the organization. Although it's often hard to predict what technologies will challenge or support the banking business model, there are movements in cloud, analytics, and mobility that IDC believes will absolutely create opportunity — or destruction — in the banking industry.
"True disruption — the kind that fundamentally changes the game — is rare," says Jerry Silva, Global Banking research director for Worldwide Banking Technology Transformation Strategies at IDC Financial Insights, "but it is also very powerful. Today, most IT executives at financial institutions plan for the next two or three years at most, but they should also keep an eye open for those disruptive events that can work for them and plan accordingly."Please Note: Extended description available upon request.
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