IT will help banks survive credit crunch, says report
Paul Pullinger, Head of Sales Banking, Capgemini reports on how IT will enable banks to prosper despite the global credit crunch and a toughening regulatory climate.
14 March 2008
Publication
The World Retail Banking Report 2008, conducted by Capgemini, ING and the European
Financial Management and Marketing Association (Efma), states that new technologies
have transformed banking information systems into enablers of new services and
processes.
“For example, new technologies make it possible to seperate distribution and
production systems, which has enabled new business models like the ‘white label’
bank, such as Virgin Money or Sainsbury’s Bank, giving banks the benefit of delivering
a product without the cost of the channel and distribution,” Paul said.
“There is a correlation between business growth and properly integrated multi-channel customer service, as shown by Dutch bank ING. which exceeded the average market growth betwween 2004 - 2006 by 40%.” Paul continued.
Other technology support for banking mentionned by the report included the ease with whcih new software packages built in an open architecture can be rolled out, and the ability it gives new entrants to set up systems quickly, potentially leap-frogging established players.
To read the rest of the article at Computer Weekly, click here.
To download the World Retail Banking Report 2008, click here.
To read the press release on how the World Retail Banking Report 2008 is showing how banks use price to influence customer behaviour, click here.
To read the press release on how organic growth in domestic markets key to bank profitability, click here.
Further coverage of the World Retail Banking Report 2008:
