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Jan 2015 - IDC MarketScape - Doc # FI253532

IDC MarketScape: Worldwide Business Consulting Services for the Banking Industry 2015 Vendor Assessment

Authors: Michael Versace, Cushing Anderson
Abstract

This IDC study uses the IDC MarketScape model to provide an assessment of a number of providers participating in the worldwide banking business consulting services market. The IDC MarketScape is an evaluation based on a comprehensive framework and a set of parameters that assesses providers relative to one another and to those factors expected to be most conducive to success in a given market during both the short term and the long term.

"The banking industry is in the midst of the biggest digital transformation it has seen in decades. Back in 1980, when John Reed, then CEO of Citibank, declared that 'banking was just bits and bytes,' many in the industry saw this as the future, but few if any understood the importance of this vision at a time when businesses were run on physical infrastructure and 1st Platform technology, before the age of call centers, the Web, and Internet banking. To excel in this new digital era, consulting firms are called on to address the range of digital business needs and challenges, ranging from optimizing customer engagements to using compliance as a competitive advantage. Based on the research contained in this document, we find an active, competitive marketplace for business consulting in banking, with some vendors better able to produce meaningful value than others, according to their clients." — Cushing Anderson, vice president, Business Consulting Services, and Michael Versace, global research director, Financial Insights: Worldwide Risk and IT Infrastructure Strategies

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