New Strategy Focus Offers Visibility into the Dynamics of the Retail Banking Core...

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