1. New Business Growth.
In order to offset declining non interest income, revenue enhancement will be a key focus for institutions, supported by new product development, innovation, increased fees and margins.
2. Channel Proliferation
Mobility, social and crowd sourcing will become key service differentiator for banks to drive customer engagement and market penetration. This will be supported by real time analytics and charting, providing the user with a seamless cross channel experience.
3. Capital Optimisation
Banks will continue to drive cost compression to seek out aggressive operational efficiencies and complexity reduction across the enterprise. Continued use of outsourcing and robust infrastructure delivery methods such as Infrastructure As A Service will be key.
4. Infrastructure Resilience.
Organisations will need to focus on their legacy infrastructure, often the result of numerous mergers and acquisitions. This sprawling server real estate that can no longer be papered over and funded infinitum.
5. Expense Control
Banks will continue to embrace hybrid cloud initiatives along with infrastructure, desktop and connectivity virtualisation to drive down costs. Investment in private clouds will be a key focus of post trade activities.
Survive or Thrive
Underpinning all of the key initiatives will be a number of strategic enablers consisting of BigData, Social Media, Mobile and Cloud.
It will be these very initiatives and enablers that will that will be critical for organisations to decide if they are going to survive or thrive in 2012.
Email : ian@IanAlderton.com
Tel : +44 (0) 7702 777770