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IDC's Worldwide Digital Transformation Use Case Taxonomy, 2018: Banking

IDC's Worldwide Digital Transformation Use Case Taxonomy, 2018: Banking

This IDC study discusses how the digital mission of "connected banking" is driven by the need to improve customer engagement in selling, delivering, and servicing financial products, payments, and services; the need to improve the bank's "brand trust" through a more transparent and secure environment; and, most importantly, the need to disrupt the bank's own business model by transforming its internal infrastructure and connecting to adjacent markets in order to expand the relationship with its customers."The best-in-class banks globally are approaching digital transformation in a systematic way that looks for efficient and secure ways of conducting business while enabling agility to better serve their customers and open the doors to expanded business models through connections to value-adding partners," states Jerry Silva, research director, Global Banking, IDC Financial Insights.


IDC's Worldwide Digital transformation Taxonomy
Digital transformation Taxonomy Changes for 2018
Taxonomy overview
Understanding and Using IDC's Digital Transformation Taxonomy
Definitions
Banking
Digital Mission: Connected Banking
Strategic Priority: Omni-Experience Customer Engagement
Omni-Experience Customer Engagement Program: Branch Transformation
Omni-Experience Customer Engagement Program: Digital Banking
Omni-Experience Customer Engagement Program: Growing and Expanding Relationships
Strategic Priority: Next-Generation Payments
Next-Generation Payments Program: Unified Payments Infrastructure
Next-Generation Payments Program: Omni-Channel Payments
Next-Generation Payments Program: Alternate Payment Rails
Strategic Priority: Corporate Banking
Corporate Banking Program: Client Value and Data-Driven Pricing
Corporate Banking Program: Distributed and Direct Connectivity Networks
Corporate Banking Program: Business Model Innovation
Strategic Priority: Digital Trust and Stewardship
Digital Trust and Stewardship Program: Data-Enhanced Identity Management
Digital Trust and Stewardship Program: Financial Crime Prevention and Detection
Digital Trust and Stewardship Program: Cybersecurity Threat Detection and Compliance
Strategic Priority: Efficiency and Agility
Efficiency and Agility Program: Core Transformation
Efficiency and Agility Program: Process Optimization
Efficiency and Agility Program: Right Sourcing
Strategic Priority: External Ecosystems
External Ecosystems Program: Connectivity Infrastructure
External Ecosystems Program: API and Data Monetization
External Ecosystems Program: Ecosystem Platforms
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Methodology
Related Research
Synopsis

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