Trends and priorities of financial institutes, related providers and markets are strengthened and confirmed by various surveys and market evaluations throughout 2021 / 2022.
- The majority of financial institutes and market participants regards the digitalisation as a business growth driver, triggering actively the digital transformation and necessary projects, (already running or in planning).
- About 70% of the companies in the financial market are the opinion, that the IT refurbishment and the adaption of related process automation will directly lead to an essential improvement on service offering and quality raising efficiency resulting in cost
- More than 50% of the financial institutes envisage to implement and integrate a digital platform and modules within existing infrastructures, system and process
- More than 50% already moved to Cloud based Services, which enables and provides easier access to existing innovative solutions, technologies and services.
- More than 60% plan their future architecture by embedding their mainframe solutions in new modern and innovative hybrid architectures (mainframe / Cloud). This need continuous adaption of the existing legacy systems and solutions as well as related adaptions to the cloud based environments and solutions.
- About 40% regard the usage of hybrid architectures and related solutions as an essential strengthening of their market and service competiveness. Time to Market for new products and services will push the implementation of companies strategy and their adptiveness for changing market and customer requirements in an agil way.
- About 80 % oft he financial institutes plan to move more than 50% of mainframe solutions and related workload towards cloud architecture
- Regulatory and Risk Mgmt. are regarded to be still high priority - 45% of market participants
- Time to Market is seen by about 33 % as an essential success factor resulting in competitive advantages
- Through the digital transformation and the utilisation of innovative technologies, the majority of financial institutes aim strongly to extend their competitiveness in the market and their service offerings.
- About 35% to 39% of the companies plan to transform and implement, related architecture and solutions to a standardised universal solution and process landscape according to company goal settings and market demand, step by step
- One third of the financial institutes have already implemented Blockchain solutions in subsectors and specific More than 25% are planning the implementation and utilisation of Blockchain technology.
The above summary of findings and trends are based on open accessible surveys and reports in the internet of a variety of companies, e.g. - Accenture, sopra steria, ibi research, itronic, Forrester, Gartner…