New Strategy Focus Offers Visibility into the Dynamics of the Retail Banking Core Systems Market
DUBLIN, Ireland--(Business Wire)--Research and Markets
(http://www.researchandmarkets.com/reports/c77876) has announced the
addition of "Core Systems Strategies in Retail Banking (Strategy
Focus)" to their offering.
Introduction
Core system replacement/transformation has become a growing
strategy for tier 1 & 2 institutions in Europe and, increasingly,
North America, as compliance pressures, need to faster time-to-market
and organization agility create a need to re-vamp the back office.
This creates a number of challenges as to how best tackle the scale
and provide future-proof solutions.
Scope
Covers retail banks in Western Europe and North America Areas
covered include the need for a customer focused approach, system
flexibility and cost issues
Highlights
That core systems are so entrenched in a bank's operations has
prevented many from making attempts at renewal projects in the
past. However, their lack of flexibility and responsiveness is one of
the key business drivers forcing banks to readdress this viewpoint.
Over recent years banks have become increasingly acquisitive in order
to sustain growth, driving both consolidation in domestic markets as
well as cross-border activity, particularly in high-growth markets. As
a result, many banks have begun to address the core systems
implications of their M&A activities. The rationale for having a
consistent platform across multiple countries will be further
compounded as SEPA becomes a reality. As the ultimate result of SEPA
will be an open retail financial services market across Europe, so
banks that have already moved to a consistent platform across their
operations will be at an advantage to their peers.
Reasons to Purchase
-- Gain visibility into the dynamics of the retail banking core
systems market.
-- Gain market insight to assist in your strategic planning and
go-to-market strategy
OUR VIEW
CATALYST
SUMMARY
ANALYSIS
A customer-centric approach will be a strategic priority for
retail banks going forward
Customer service underpins customer retention and cross-sales
Product origination should be consistent across channels
Flexibility will be key for banks seeking to move to a future
proof platform
Product development and time to market to support a
customer-centric focus
Scalability and breadth to support future growth opportunities
Acquisitive banks should develop a framework for incorporating new
institutions
Expanding into new geographies offers the opportunity to leverage
synergies across borders
Core systems investments should support future regulatory
developments
Cost control and operational efficiency will be the foundations of
core renewal investments
Total cost of ownership remains a key issue on the IT side
Improving operational efficiency will improve organizational
flexibility
Banks will start to consider alternative sourcing strategies to
further improve flexibility
Information management and internal controls need to be built into
core systems platforms
Information management is essential to support and improve both
the back and front office operations
Audit and control should be addressed from an enterprise-wide
perspective, and rooted in the core system
APPENDIX
Further reading
Ask the analyst
Our consulting
Disclaimer
For more information visit
http://www.researchandmarkets.com/reports/c77876
Source: Datamonitor
Research and Markets
Laura Wood, Senior Manager
Fax: +353 1 4100 980
press@researchandmarkets.com
Copyright Business Wire 2007
