LONDON, April 17, 2013 /PRNewswire/ -- The bleak economic outlook has restrained banks in Europe from investing a large amount of resources in new projects, including ICT-related developments. Banks' efforts are now focused on maintaining the current ICT infrastructure. Additionally, a lot of disruptive technologies such as mobile payment, mobile banking, cloud and big data have forced financial services providers to rethink their future ICT strategy.
The main drivers and restraints for the deployment of ICT payment projects in Europe will be discussed during an upcoming Frost & Sullivan webinar scheduled for Wednesday, 24 April 2013, at 16.00 BST. The webinar will include a presentation by Frost & Sullivan's Global Program Director for Digital Identification and Financial Services, Jean-Noel Georges, providing the current status of ICT investments in financial services in Europe and identifying the top four factors that will impact this segment.
"The European mobile financial service market is characterised by a relatively high uptake of m-banking services, an emergent adoption of m-payments, and long-term growth opportunities in international m-remittances," said Jean-Noel Georges. "The region is shifting toward contactless payment card systems and the contactless cards market is expected to grow at a compound annual growth rate (CAGR) of 26.7 percent between 2011 and 2017."
"Frost & Sullivan's forecast for 2013 had anticipated a sharp increase in the market footprint of contactless payments owing to advances in contactless payment card solutions and the first minor commercial roll out for near field communication (NFC)," added Georges. "Massive adoption for m-payment offerings will wait until 2014-2015." On the other hand, cloud computing will remain as a cost efficiency driver pushed by social media and data analytics projects.
The webinar will be interesting for ICT companies including telecom operators, hardware and software providers, as well as integrators within the financial services industry since it discusses investment forecasts and emerging trends for the European banking sector.
If you would like to participate in this complimentary webinar, please e-mail Joanna Lewandowska, Corporate Communications, at [email protected], with your full contact details. Upon receipt of the above information, a registration link will be e-mailed to you. You may also register to receive a recorded version of the briefing at anytime by submitting the aforementioned contact details.
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