Retailers will aim to address the following key challenges through IT in 2017: supply chain management efficiencies, offering a superior customer experience across channels, and gaining better insight from existing as well as new data sources.
Survey of 127 retail banks suggests that ICT budgets are set to grow more than in 2014-15 in both absolute and percentage terms, as they tackle more “change the bank” rather than “run the bank” initiatives.
While providers intend to make some or significant IT investments across all insurance business functions through 2016, vendors need to respond to this in relation to the current market dynamics across the sector.
Global retail organizations plan stronger increases for their IT budgets in 2016 compared with 2015.
While providers intend either some or significant investment across all clinically related IT domains through 2016, vendors need to view this planning against the broad range of market dynamics playing out
Rapid digitalization has resulted in a lower attention span of customers. As customers have access to multiple brands and interaction touch points, they can change their brand loyalties with just a click of a button
Omnichannel banking approach is the next generation of multi-channel banking. The omnichannel approach involves a harmonious integration between the different banking channels including online, mobile, social, ATMs, and physical branches
Insurance companies are known to house varied legacy systems that have either evolved over time within the company or have been acquired as a result of mergers and acquisitions
Carriers have known for years that their legacy policy administration, claims and billing systems are out-of-date, but have largely worked around them with manual processes and one-off technology efforts
An integral part of the customer information system (CIS) is the CRM system. The operations that generate revenue within an organization are primarily driven by the customer relationship management (CRM) system
Easy internet accessibility through computers, mobiles, and handheld devices has increased customers' dependence on online platforms for most things
Retail Banking: Trends in governance, risk and compliance (GRC) management; Vertical and technology trends
In the age of rapidly changing business conditions, rising regulatory pressures have added to the overheads involved in addressing and managing escalating compliance and risk issues associated with legacy banking systems
Marketing and sales activities drive business growth. However, the explosion of the digital marketing landscape and massive amounts of available content is further complicating sales processes, thereby making them more disjointed and inconsistent