The transformation pressure on financial institutions is intensifying in light of an ever-tighter corset of regulations; the emergence of new digital business and operating models powered by and delivered through a diverse, connected ecosystem of service providers, partners, and clients; and new technologies pushing the boundaries of productivity and data-driven decision making. This forces a massive rethinking among senior decisionmakers on how to respond to market drivers and futureproof their business by putting in place the digital infrastructure, skills and capabilities, governance, security, and automation tools to respond flexibly and in a data-driven manner to what life throws at them.
IDC Financial Insights: Worldwide Financial Services Platforms and Technologies research and advisory service guides financial leaders and their suppliers through this journey by enabling them to make informed decisions today about the future of digital infrastructure, legacy modernization strategies and platforms, AI and automation, improving data accuracy, cybersecurity and digital sovereignty.
The IDC Financial Insights team works closely with financial practitioners – both in terms of in-depth interviews and advisory sessions as well as surveying 1000s of financial institutions globally every year. At the same time, IDC Financial Insights is tightly connected with tech suppliers to help them understand the needs and challenges of financial institutions and finetune their offering accordingly.
Drawing on decades of financial services experience, our industry analysts combine their vertical expertise with IDC's intellectual property, such as IDC data products (e.g. industry and technology spending guides), DX and AI use case taxonomies. We work closely with IDC technology analysts to keep pace with the incredible momentum of technology evolution to not only put our research into an industry context, but to make it actionable for our readers.
Throughout the year, this service will address the following topics:
- Futureproof digital infrastructure for the needs of the business (e.g. embedded finance, data-driven finance), the technologies (e.g. AI, GenAI, quantum computing), and the regulators (e.g. operational resilience, cybersecurity, ESG).
- Policies and best practices for the responsible use of data and AI, data quality and accuracy, data protection and privacy, cybersecurity and digital sovereignty.
- Identification, tracking and evaluation of partners for IT services, business solutions and consultancy to help your organization innovate, accelerate, assure, transform and develop a vision for the future of financial services business and operations.
- Legacy modernization strategies, whether from going cloud-native, getting the best of both worlds with a hybrid strategy, or through progressive modernization strategies, such as platformication on the back of microservices architecture
- Quantitative peer-based insights based on global and regional industry surveys and market forecasts with qualitative commentary and analysis around key business priorities, IT investment priorities, value impact of use cases, pain points and challenges.
- Best-practice case studies of business model-, product-, process-, and technology transformation projects of financial institutions around the world, including lessons learned from failed initiatives
- Potential of a connected ecosystem of financial institutions, services providers, industry peers, cross-industry partners, and customers.
Our research addresses the following topics that are critical to your success:
- What platforms and technologies will power and protect the future of financial services?
- How are those platforms and technologies impacting service delivery-, operating-, and trust models?
- Which providers should a financial institution consider as partners in their transformation journey to the cloud based on its individual needs and strategy?
- How to navigate the headwinds of economy, risk, regulation, social impact, and ethics as the industry moves towards data-driven, automated and predictive decision making?
- How can financial institutions adapt to change, improve performance, reduce costs and increase cyber-resilience by leveraging cloud and automation?
This service is addressed at business and IT executives at financial institutions with a transformation and innovation mandate struggling to cut through the buzz of the tech industry and looking for actionable guidance in form of data from global surveys, case studies, vendor landscapes and evaluations, and informed insights from expert IDC Financial Insights analysts. Additionally, it provides technology suppliers with cutting-edge knowledge on the adoption of technologies impacting the financial services landscape.
