Reportlinker Adds Vision 2020: What Will Retail Banking Technology Look Like in 10 Years?

NEW YORK, Dec. 8, 2010 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Vision 2020: What Will Retail Banking Technology Look Like in 10 Years?

http://www.reportlinker.com/p0337466/Vision-2020-What-Will-Retail-Banking-Technology-Look-Like-in-10-Years.html

Introduction

Predicting the medium-to-long term future is a delicate, yet surprisingly difficult, task. On the one hand, futurology positively encourages unbridled exuberance where retail banking is concerned. On the other hand, it's easy to play safe, and suggest that the sector will remain fundamentally unchanged a decade from now. Ovum's view is that the most likely outcomes will lie somewhere in-between.

Features and benefits

Gain insight into the trends that Ovum believes will shape the development of the retail banking industry over the next decade.

Understand how retail banks will make pragmatic decisions to leverage technology in order to achieve key operational objectives.

Highlights

From a market focus perspective, when compared to 2010, the environment that retail banks operate will not look vastly different in 2020, although macro-economic, regulatory, and commercial pressures will have varying degrees of influence.

From a business focus perspective, with their wings severely clipped by governments, central banks and regulators following the industry crisis of 2008/09, the years between 2010 and 2020 will be characterized by banks taking a more considered and risk-averse commercial approach.

From a technology focus perspective, retail banks will demonstrate a preference to make technological enhancements that deliver tangible operational and financial improvements, and displaying a discernable degree of pragmatism when it comes to separating genuinely useful from gimmick.

Your key questions answered

Learn what the retail banking competitive landscape will resemble in 2020.

Discover the technologies that retail banks will be reliant upon in order to serve an increasingly diverse customer base.

TABLE OF CONTENTS

SUMMARY 1

Catalyst 1

Ovum view 1

Key messages 3

Market Context: Retail Banking in 2020 10

Achieving stability will require regulatory changes to retail banking 10

Changes will occur in the competitive landscape in the decade to 2020 11

Former emerging markets will become mainstays in the global economy 13

Business Focus 19

Life outside the fast lane 19

The development of retail banking will be evolutionary, not revolutionary 19

Banks will have to meet the needs of a diverse customer base 20

Well-run banks will engage with customers via all available channels 22

The payments arena will not change radically, but mobile has legitimacy 31

Business users will help drive core system transformation 33

Technology Focus 35

A pragmatic appliance of science 35

Social CRM technologies will be an accepted part of retail banking 35

Near-field communications payment capabilities will be a standard component in devices 36

Tactility and interactivity will be prevalent in the banking experience 37

Retail banks will operate in a hybrid cloud computing world 38

Core systems will evolve in line with operational requirements 40

Ovum's Coda 41

Retail banks will need to learn lessons from history 41

APPENDIX 42

Further reading 42

Methodology 42

Author 42

Ovum Consulting 42

Disclaimer 42

TABLE OF

FIGURES

Figure 1: Savings as a percentage of GDP: 2005–11 11

Figure 2: Customer transaction and interaction mechanisms: 1970–2020 23

Figure 3: How important are the following channels to you in financial services? 24

Figure 4: Predominant social media platforms around the world 25

Figure 5: Age distribution of US and UK Facebook users 26

Figure 6: Key factors influencing the prominence of video in retail banking 28

Figure 7: Quantifying the benefits of video communication in retail banking 31

Figure 8: The components of a social CRM system 36

Figure 9: The user interface of Wells Fargo's touchscreen ATM 37

Figure 10: Supporters of the Enterprise Cloud Buyers Council 39

TABLE OF

TABLES

Table 1: Global GDP share: 2000–20 14

Table 2: Forecast growth in population demographics: 2010–20 20

To order this report:

Commercial Banking Industry: Vision 2020: What Will Retail Banking Technology Look Like in 10 Years?

Commercial Banking Business News

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