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Introduction

Based on interviews with around 7,000 senior IT executives, Ovum's ICT Enterprise Insights program answers key questions concerning enterprises' needs at a country and industry level. This brief focuses on the top findings for the retail banking industry.

Highlights

  • Ovum's ICT Enterprise Insights survey demonstrates that increasing the speed to market of new products is one of the most important drivers of IT investment in 2017.
  • Our survey shows that revenue growth remains the ultimate underlying driver of IT investment for retail banks, with regulation and efficiency being more balanced relative to revenue generation in comparison with previous years.
  • The survey shows that banks view open APIs as both a threat and an opportunity.

Features and Benefits

  • Identifies the IT needs of the retail banking industry globally.
  • Analyzes the top findings from Ovum's ICT Enterprise Insights program for the retail banking industry.

Key questions answered

  • What are the top priorities for IT decision-makers in the retail banking industry over the next 18 months?
  • What are the spending plans of retail banks?

Table of contents

Summary

  • Catalyst
  • Ovum view
  • Key messages

Recommendations

  • Recommendations for enterprises
  • Recommendations for vendors

2017 is set to be another year of increasing IT investment as banks transform

  • Creating more products and making buying easier are banks' top IT investment drivers for 2017
  • Product and functionality development are important for banks in 2017
  • Open APIs are a threat and an opportunity for banks

Ovum's ICT Enterprise Insights Program

  • IT and communications insight by line of business

Appendix

  • Methodology
  • Author

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