Impact of Digital on Retail & Commercial Banking Sector: 2019

Impact of Digital on Retail & Commerical Banking Sector: 2019

Who Is This Report For?
NelsonHall’s “Impact of Digital on IT Services in Retail & Commercial Banking Sector: 2019” report is a comprehensive market assessment report designed for:
• Sourcing managers investigating sourcing developments within the Retail & Commercial Banking sector
• Vendor marketing, sales and business managers developing strategies to target IT services (ITS) opportunities within the Retail & Commercial Banking sector
• Financial analysts and investors specializing in the IT services and BPS sector

Scope of the Report
The report is based on interviews with executives in the Retail & Commercial Banking sector in the U.S., U.K., Continental Europe, and Asia Pacific.
The report analyzes the worldwide market for IT services within the Retail & Commercial Banking sector and addresses the following questions:
• What are the principal business priorities faced by organizations in the Retail & Commercial Banking sector?
• What IT initiatives are planned by organizations in the Retail & Commercial Banking sector?
• How relevant are digital initiatives to organizations in the Retail & Commercial Banking sector?
• What digital initiatives are planned by organizations in the Retail & Commercial Banking sector?
• What business areas are targeted for digital initiatives by organizations in the Retail & Commercial Banking sector?
• What digital technologies are planned to be introduced by organizations in the Retail & Commercial Banking sector?
• What are the key selection criteria used by organizations in the Retail & Commercial Banking sector to select suppliers to implement digital initiatives?
• What shifts in sourcing approach are expected by executives in the Retail & Commercial Banking sector over the next three years?
• How do companies in the Retail & Commercial Banking sector expect their spend on ITS services to change over the next three years?
 
Key Issues & Highlights
Retail and commercial banks are primarily focusing on initiatives to grow their business and increase the efficiency of delivery. Two major business priorities to drive growth and improve operating efficiency identified unprompted by retail and commercial banks were:
• Identify new growth opportunities and reduce customer churn
• Increase the efficacy of operations through expanded use of digital.
Accordingly, retail and commercial banks are:
• Identifying and pursuing digital initiatives to improve customer experience and improve operating efficiencies through the application of analytics and expanded mobile offerings
• Adopting DevOps and digitalizing applications landscapes to accelerate time to market and reduce IT service costs
• Prioritizing the engagement of vendors with deep industry knowledge and UX consulting and design capabilities to implement cloud and SaaS solutions.