Oct-22
IDC FutureScape: Worldwide Banking 2023 Predictions
IDC FutureScape: Worldwide Banking 2023 Predictions
Oct-22 DOC # US48660022 IDC DecisionScape
This IDC study provides IDC's 2023 top 10 predictions for banking. Predicting the future of banking and the implications of technology strategies at financial institutions has become more and more difficult over the past three years. But IDC believes that the predictions in this document will enable banks to overcome the challenges of rigid architectures and strategies and put those institutions in a better position to navigate the dynamic, and sometimes chaotic, market environments of the future.
"Today's goal for banking worldwide is to overcome the immediate challenges in the markets, while mapping out a longer-term strategy for growth and innovation during calmer times," said Jerry Silva, research vice president, IDC Financial Insights. "The banks that can map out strategic investments, leveraging appropriate technologies, will be best prepared to remain resilient and profitable in any situation."
Mar-23
IDC Asia/Pacific names CTBC Bank and FWD Group as Banking and Insurance Leaders for 2023
IDC Asia/Pacific names CTBC Bank and FWD Group as Banking and Insurance Leaders for 2023
Mar-23 DOC # prAP50468223 Press Release
13 Banking and Insurance Leaders recognized in the 2023 Financial Insights Innovation Awards
Oct-22
IDC FutureScape: Worldwide Corporate Banking 2023 Predictions
IDC FutureScape: Worldwide Corporate Banking 2023 Predictions
Oct-22 DOC # US49411822 IDC DecisionScape
This IDC Financial Insights FutureScape presents the top 10 predictions for the corporate banking industry.
"Caught between a rock and a hard place, the corporate banking industry is facing massive pressure to ensure liquidity and stabilize financial supply chains, while dealing with the deteriorating credit quality in the light of an emerging recession and rising interest rates," said Tom Zink, senior research director, IDC Financial Insights. "At the same time, the ongoing transformative pressure to support the emerging ecosystem is forcing banks to move quickly or face disintermediation by other ecosystem participants."
Sep-22
IDC Perspective: Banking on the Cloud: Results from the 2022 CloudPath Survey
IDC Perspective: Banking on the Cloud: Results from the 2022 CloudPath Survey
Sep-22 DOC # US48660522 Insight
This IDC Perspective reviews the findings of IDC's 2022 Worldwide Industry CloudPath Survey specifically for the banking industry. Cloud services form the foundation for the banking industry's transformation to a digital business to improve innovation and gain business agility while improving resilience to disruptions from rising inflation, geopolitical challenges, and a growing digital-native population. As what IDC's 2022 Worldwide Industry CloudPath Survey shows, banks need a breadth of cloud services and need to operate in multicloud environments given that 83% of the banks surveyed use public and private cloud platforms.
"Cloud continues to be a growing component of the bank's digital infrastructure as banks recognize the importance of cloud services for their ability to innovate while improving resilience against current and future disruptions," says Jerry Silva, Vice President, IDC Financial Insights' Global Retail Banking Program. "This year's IDC Worldwide Industry CloudPath Survey shows us that the banking industry continues to accelerate cloud adoption based on the real benefits proven in the market," he adds.
Jan-23
IDC FutureScape: Worldwide Banking 2023 Predictions — Asia/Pacific (Excluding Japan) Implications
IDC FutureScape: Worldwide Banking 2023 Predictions — Asia/Pacific (Excluding Japan) Implications
Jan-23 DOC # AP48760322 Presentation
This IDC FutureScape presents IDC Financial Insights’ view of the top 10 predictions for financial services (including banks, insurance, and payments) as they apply to Asia/Pacific (excluding Japan) (APEJ) region. Predicting the future of banking and the implications of financial institutions’ technology strategies continues to become more difficult since the pandemic. The predictions in this document contextualized tor the Asia/Pacific region will allow financial institutions to break through the challenges of legacy and reequip themselves better to navigate the challenging and unpredictable markets that are emerging.
"With the pandemic drawing to a close in most parts of the world, institutions will need to look at the technology investments they have made recently to capitalize on the digital surge and see how they fit into a longer-term strategy and how they can be used for longer-term growth," says Michael Yeo, associate research director, IDC Financial Insights. He adds, "Banks that can remap and bolster their technologies into cohesive and sustainable growth objectives will find be best prepared to face the challenges of the near future."
Dec-21
IDC PlanScape: Core Banking Modernization to Meet Changing Demands
IDC PlanScape: Core Banking Modernization to Meet Changing Demands
Dec-21 DOC # US48460621 IDC DecisionScape
This IDC PlanScape helps organizations justify investment in core banking modernization, provides insight into different approaches to modernize core banking, and provides process-related advice for these deployments.
"Now is the time for banks to modernize core banking," says Jerry Silva, vice president, IDC Financial Insights' Worldwide Banking Digital Transformation Strategies program. "Between modern technology approaches like microservices and APIs and the use of cloud platforms ensuring scalability and resiliency for the bank's back office, banks would do well to start the journey to core system modernizations without delay."
Most banks around the world rely on aging legacy systems that cannot provide the real-time transactions or personalized services that customers demand more than ever and that they receive from both banking competitors and other industry firms. A modern core is a business enabler using the latest technology to drive better banking experiences with personalized customer engagement and faster response to market changes with new products and services, expanding revenue opportunities for the bank.
Mar-22
IDC Financial Insights' Worldwide Banking Taxonomy, 2022
IDC Financial Insights' Worldwide Banking Taxonomy, 2022
Mar-22 DOC # US48880922 Study
This IDC Financial Insights study provides a functional structure of the global banking industry. It focuses on the business lines and functions within banking that drive technology spending and provides the fundamental organization behind IDC Financial Insights' IT spending forecasts as well as a means of organizing ongoing research.
According to Karen Massey, research manager, Customer Insights and Analysis, "This global banking taxonomy serves as the foundation document in terms of technology and business processes for both vendors and financial institutions to understand IDC Financial Insights' perspective on research and market forecasts."
Mar-22
Banking Customer Experience Strategic Priorities Using Artificial Intelligence: Results from the AI Path Survey
Banking Customer Experience Strategic Priorities Using Artificial Intelligence: Results from the AI Path Survey
Mar-22 DOC # US48663522 Insight
This IDC Perspective reviews the findings of IDC's 2021 Worldwide Industry AI Path Survey specifically for artificial intelligence (AI) as a transformational technology in the customer experience for the global banking industry. AI refers to systems that learn, reason, adapt, and self-correct like a human, harnessing the power of data for more meaningful engagements and new growth opportunities. This document focuses specifically on how AI is being used to strategically address the customer experience across the digital self-service channels, including the onboarding, credit decisioning, and daily customer support solutions. Banks that ignore AI and the trends from this document will risk further detaching modern banking experiences for their customers and will find it more difficult to compete.
"Banks have recognized that improving the digital customer experience needs to be ramped up beyond just providing transactional information and will rely on gathering as much data as possible, both internal and external, to help create outstanding customer experiences," says Marc DeCastro, research director, IDC Financial Insights. "AI is going to be a significant part of that improvement from the onboarding, decisioning, product advice, and support provided by the institutions to their customers using everything from robotic process automation to the latest in natural language processing to make those experiences as humanlike (but not necessarily humanless) as possible."
Oct-22
Cloud Adoption Across Varied Industries in India: Banking, Financial Services, and Insurance, Manufacturing, Telco, Retail, and Media in 2022
Cloud Adoption Across Varied Industries in India: Banking, Financial Services, and Insurance, Manufacturing, Telco, Retail, and Media in 2022
Oct-22 DOC # AP48500222 Presentation
This IDC Tech Buyer Presentation summarizes cloud technology developments in India’s banking, financial services, and insurance (BFSI), manufacturing, retail, telecommunications, and media sectors in the past year. This report highlights the overall cloud spend outlook of India in these sectors and trends and factors that drive cloud adoption in the India market. The report also provides cloud-specific use cases and guidelines to successfully implement cloud technology across each sector.
Oct-21
IDC FutureScape: Worldwide Corporate Banking 2022 Predictions
IDC FutureScape: Worldwide Corporate Banking 2022 Predictions
Oct-21 DOC # US47804121 IDC DecisionScape
This IDC Financial Insights FutureScape presents the top 10 predictions for the corporate banking industry.
"Corporate banking has been one of the hardest-hit business lines in financial services, given the massive disruption to international trade and supply chains, uncertainty about the impact of the COVID-19 pandemic, politically motivated tensions and protectionism, and the transformation toward sustainable finance disrupting capital markets and traditional lending business", said Tom Zink, research director at IDC Financial Insights. "Moreover, the industry is caught in a modernization sprint as new regulations and customer needs mandate modernization, while an emerging treasury ecosystem fundamentally changes the way businesses are run."
Sep-21
IDC Financial Insights' Worldwide Banking Taxonomy, 2021: Release V2, 2021
IDC Financial Insights' Worldwide Banking Taxonomy, 2021: Release V2, 2021
Sep-21 DOC # US48154121 Study
This IDC Financial Insights study provides a functional structure of the global banking industry. It focuses on the business lines and functions within banking that drive technology spending and provides the fundamental organization behind IDC Financial Insights' IT spending forecasts as well as a means of organizing ongoing research.
According to Karen Massey, research manager, Customer Insights and Analysis, "This global banking taxonomy serves as the foundation document in terms of technology and business processes for both vendors and financial institutions to understand IDC Financial Insights' perspective on research and market forecasts."
Sep-21
Areas of AI Deployment in Banking
Areas of AI Deployment in Banking
Sep-21 DOC # US48221121 Presentation
This IDC Survey Spotlight illustrates current areas where banks have implemented AI to create operational efficiencies and memorable customer experiences with more valuable engagement. This document contains data from IDC's 2021 Worldwide Industry AI Path Survey, specifically for the banking industry. The survey provides deep insight into how global industries generate ROI from leveraging AI applications and systems and their buying process and brand perceptions. The survey focuses on key decision makers in a broad range of industry segments, located in 32 countries in North America and Latin America, Europe, and Asia/Pacific, including 100 executives in banking, all of whom are familiar with AI applications and either currently use or plan to use AI applications within the next 12 months. Each of the banking respondents identified themselves as primarily retail, consumer, small business, and/or corporate banks, including institutions in North America and Latin America, Europe, and Asia/Pacific. This document does not cover the capital markets or insurance industries, but these industries were included in the survey as well.
"Banks that can find the fundamental value in the data they amass and learn to extract and use it to drive better decision making, increase operational efficiency, and felicitously engage with customers will thrive — by leveraging AI," remarked Karen Augustine, research manager, IDC Financial Insights.
Nov-21
IDC's Worldwide Digital Transformation Use Case Taxonomy, 2021: Banking
IDC's Worldwide Digital Transformation Use Case Taxonomy, 2021: Banking
Nov-21 DOC # US44302320 Study
This IDC study discusses how the banking industry is accelerating its recovery from, and overcoming of, the disruptions in 2020 through the digital mission of "accelerated banking." The taxonomy defines six strategic priorities to accomplish the industry's digital mission of accelerating the pace of transformation to get back to an environment of innovation. It defines separate programs that support each strategic priority. Under each program are a set of use cases, which are discretely funded efforts supporting a program objective.
"The disruption in 2020 put the banking industry on its heels, forcing it to focus on immediate resolution to weaknesses in resiliency and scalability," said Jerry Silva, vice president, IDC Financial Insights. "But as the industry comes back from a significant disruption, the focus is turning on the acceleration of transformation to quickly get back to an environment of innovation."
Sep-21
Banking on Artificial Intelligence: Results from the 2021 AI Path Survey
Banking on Artificial Intelligence: Results from the 2021 AI Path Survey
Sep-21 DOC # US48220921 Insight
This IDC Perspective reviews the findings of IDC's 2021 Worldwide Industry AI Path Survey specifically for artificial intelligence (AI) as a transformational technology in the global banking industry. Artificial intelligence refers to systems that learn, reason, adapt, and self-correct like a human, harnessing the power of data for more meaningful engagements and new growth opportunities. Banks that can find the fundamental value in data they amass and learn to extract and use it to drive better decision making, increase operational efficiency, and felicitously engage with customers will be tremendously rewarded. Data-driven innovation with far greater personalization and automation is a strategic imperative for companies to thrive and grow in this new digital economy. Banks that ignore these trends risk customer fallout. Banking in some form or another will always be necessary, but how long will traditional banks be relevant if they don't adapt?
"Banks are increasingly adopting AI technologies to push the boundaries of innovation, creating operational efficiency and memorable customer experiences with more valuable engagements," says Karen Augustine, research manager, IDC Financial Insights.
Jul-22
Australia and New Zealand's Banking and Financial Services Landscape, 2022: Building Digital First Financial Services
Australia and New Zealand's Banking and Financial Services Landscape, 2022: Building Digital First Financial Services
Jul-22 DOC # AP47747922 Presentation
This IDC Presentation explores the Australia and New Zealand (ANZ) banking, financial services, and insurance (BFSI) landscape in 2022.
The key areas examined in the report include:
Jun-22
Banking & Financial Services Organizations Ratchet Up ICT Spending in Bid to Become Digitally Resilient
Banking & Financial Services Organizations Ratchet Up ICT Spending in Bid to Become Digitally Resilient
Jun-22 DOC # prMETA49378322 Press Release
Aug-22
IDC: Banks to Spend an Additional $31 Billion on Embedded AI on Existing Software, Fraud Management a Priority
IDC: Banks to Spend an Additional $31 Billion on Embedded AI on Existing Software, Fraud Management a Priority
Aug-22 DOC # prAP49573822 Press Release
IDC to reveal financial institutions’ country-specific challenges in Asia/Pacific.
May-22
IDC Perspective: Westpac Takes the Lead as Banking-As-A-Service Comes to Asia/Pacific
IDC Perspective: Westpac Takes the Lead as Banking-As-A-Service Comes to Asia/Pacific
May-22 DOC # AP47795521 Insight
This IDC Perspective looks at the emergence of banking as a service (BaaS) as a strategic imperative for Asia/Pacific banks, enabling banks to offer financial products and services from within the distribution channels of nonbank third parties. Some banks, such as Australia's Westpac Banking Corporation (Westpac), are noted to stand out in the eight key components of BaaS.
"Seemingly making up for the distraction of the past two years, many banks are poised to go beyond open banking, priming themselves for BaaS. BaaS, however, is not just another distribution strategy for the bank. BaaS can help banks create truly innovative business models, creating new sources of revenue. The point of some BaaS strategies might very well be in the growth of partner-generated revenues," says Michael Araneta, associate VP, IDC Asia/Pacific Financial Insights.
Mar-22
IDC Names 15 Asia/Pacific Banking and Insurance Leaders for the 2022 Financial Insights Innovation Awards
IDC Names 15 Asia/Pacific Banking and Insurance Leaders for the 2022 Financial Insights Innovation Awards
Mar-22 DOC # prAP48977422 Press Release
SINGAPORE, March 23, 2022 – IDC announced tonight the 15 best of the best Asia/Pacific banking and insurance leaders for the 2022 Financial Insights Innovation Awards. Nearing two decades, FIIA again recognizes the leading-edge financial services institutions (FSIs) with one of the most sought-after awards in the industry. This 2022, IDC continues to recognize the leading Asian financial services institutions whose business goals were achieved through the novel application of IT innovations.
Dec-21
Proceedings from the IDC European Banking Executive Digital Summit 2021
Proceedings from the IDC European Banking Executive Digital Summit 2021
Dec-21 DOC # EUR148413421 Insight
This IDC Perspective summarizes key points from the 2021 IDC European Banking Executive Digital Summit, held as a digital event on November 9, 2021, together with our partners Workday, ServiceNow, Red Hat, Adobe, Accenture, nCino, LzLabs, and Palo Alto Networks as well as multiple end-user speakers from Lloyds Banking Group, ABN AMRO Bank, ING, Komerční banka, Julius Baer, and Recognise Bank. The event focused on the following topics: