BOSTON-Celent, a financial research and consulting firm based here, said it foresees a triumvirate of technology priorities in 2010: risk management, cost reduction, and improving channel delivery.
Virtually all the individual trends cited across geographies support one of more of these objectives, according to Celent's report, "Top Technology Trends in Retail Banking for 2010: North America, Europe, and Asia."
A key global trend the firm identifies for 2010 in all three geographies is risk. Celent said cost reduction and multichannel delivery efficiency have emerged as consistent themes globally. "An often unstated objective observed globally is that of reducing the overall complexity of banking institutions. This can be observed both internally (in bank organization or system redesign) and externally (via product and channel simplification)."
The following top technology trends in North American retail banking are: 1. Banks employ self-service as a way to please customers and cut costs; 2. Mobile banking is moving mainstream, but remains basic; 3. Branch renewal waits another year; 4. Banks start to address the implications of social media; 5. Banks get serious about PFM; 6. Behavior analysis becomes a standard tool; 7. Enterprise payment hubs shift payments to lower-cost platforms.
Trends Celent sees as specifically in the United States: 1. Small Banks in the U.S. are disappearing; 2. Paper becomes the exception in branches; 3. Mobile RDC: self-service deposits on the horizon.
For info: www.celent.com
