The continued transformation of the European banking sector undoubtedly brings with it new operational and technological challenges, opportunities, and threats. In Europe, financial institutions are challenged by regulatory constraints (e.g., data privacy, business continuity, security) that can limit the adoption of emerging technologies for reasons unknown in other industries or to industry peers in the rest of the world. European banks' focus on operational efficiency is now forcing institutions to deliver better customer experiences and develop new business models and operating models that foster innovation. Regulation brought massive change to the industry and challenged financial institutions on multiple fronts — from more work, more competition, and more security and transparency to sometimes also ambiguous messaging. Nonetheless, some of the regulations will have a far-reaching impact on the bank's business models and operating environments and will serve as a testing ground. The "open banking" era that is upon us will further urge banks to become more relevant, contextual, and dynamic to react to the customer or face disintermediation from the customer relationship. The goal of the IDC Financial Insights: European Banking Digital Transformation Strategies service is to assist financial institutions in exploiting IT solutions to maximize returns and retain customers and to help technology vendors further define and execute their strategic marketing programs. Moreover, the program focuses on the evolution and implementation of new technologies such as blockchain, cognitive computing and machine learning, and cloud.
The research agenda follows banking opportunities from customer and vendor perspectives, providing senior-level decision makers with timely market insight into the business opportunities in this dynamic part of the world. Our advisory service provides ongoing research reports, analyst access, and admission to content-rich conferences, podcasts, and webinars.
Throughout the year, this service will address the following topics:
- Changing trends in customer-centric strategies for consumer banking, credit, investment, and corporate banking
- New trends in risk and regulatory compliance
- Best practices and business models for marketing, supply chains, and governance
- The evolution of mobile banking, NFC, prepaid cards, and other payment trends
- Self-service banking and the role of the internet and other innovative channel management schemes
- Addressing the Big Data challenge, particularly in the context of business intelligence and analytics
- Understanding how banking can best leverage the opportunities afforded by social networking
- The use of cloud-based services by financial institutions
- IT spending trends in the European banking sector
Key Questions Answered
Our research addresses the following issues that are critical to your success:
- What are the unique dynamics in European retail and corporate banking, including pan-European regulatory initiatives?
- How are the needs of European consumers and companies changing, and what will this mean for the banks that serve them?
- How can delivery channels be a source of added value through which high-margin relationships can be created and sustained? What makes a difference in winning the larger "share of the wallet" from customers?
- What are the hot trends in European banking? How can technology providers optimize their business models to benefit from these opportunities?
- How can financial institutions leverage innovative partnerships and net-centric collaboration with service vendors and leverage relationships with supermarkets, telecommunications providers, or other companies?
- What are the trends in IT product areas (i.e., hardware, software, and IT services)?
- What are the optimal transformation strategies for banks to consider?
Who Should Subscribe
Financial institutions and technology vendors that support them use our research to guide their internal investment decisions, help them plan for future technology needs, benchmark the competition, and stay current on solution offerings. We also provide clients an open dialogue with our expert analysts to support key fintech investment strategies