Trying to stay ahead of the curve when it comes to IT issues is a challenging task. Emerging technology forces in the financial services industry are already impacting business. The convergence of these forces does present challenges; however, it also provides a window of opportunity for financial institutions to elevate business performance and gain a competitive advantage. Perficient provides a monthly perspective on some of the most talked about IT issues and emerging trends to help industry professionals identify and rationalize their IT investments.
The term “customer experience” has evolved beyond the branch experience to include online and digital channels in banking. Banks must not only deal with understanding best practices for a satisfying customer experience, but they face heavy competition from nontraditional mobile and online competitors. If done correctly, the banking customer experience can improve customer loyalty and profitability. Financial institutions must continue to invest in and focus on customer analytics and new capabilities to truly create a great customer experience across channels.
- 5 Ways Banks Can Provide The Human Touch for Customers
- Where is the ROI on Customer Experience in the Banking Industry?
- Chase to Enter Merchant Offer Fray with Bloomspot Acquisition
- Creative Destruction and Customer Experience
Mobile Gains Ground in Banking
Financial services organizations are mapping their customer-centric initiatives to mobile banking solutions in order to capture market share and gain a competitive advantage. Today’s consumer expects technology at their fingertips whenever they want it and however they need it.
- Six Quick Tips to Improve the User Experience for Mobile Banking
- Bank of America’s Plan to Drive Mobile Banking Beyond 12 Million
- Q&A: Farmers & Merchants CIO Shares Mobile Banking Strategy
- Hawaii Bank Hopes Mobile Success Can Turn Data to Dollars
Payment Disruption Continues
To remain “top of mind” and “top of wallet” in consumers’ perception, banks must define their tactical and strategic plans in concrete terms and decide which payment capabilities best represent customer needs. Banks must rationalize mobile payments as a key customer channel to be competitive against emerging capabilities of non-bank payment providers.
- Good Mobile Payments App Design Is A Lot More Than Linking A Card
- Inside PayPal’s Play for Banks’ Customers
- Payments: The 5th P of Marketing?
- I’ve Tried Person-to-Person Payments, You Should Too
Big Data continues to be a controversial, yet growing technology in banking. In financial services, the ability to use tools to understand and interpret Voice of Customer (VOC), risk and fraud patterns, and, in concert with mobile banking apps, offers real-time segmentation to build customer loyalty and retention, and the highest return in terms of value. As banks continue to evaluate Big Data for their business, trends in cloud services, data appliances, open source tools, social media streams and text analytics offer low-risk strategies for adoption in financial services.
- Making Big Data Architecture Decisions
- Social Listening Helps Banks Find Value in Information
- Big Data Adoption Resources for Financial Institutions
Cloud deployments for core processing systems, non-banking software and leveraging cloud services for big data processing are gaining traction in financial services. As banks make technology decisions to address IT infrastructure challenges and reduce costs moving
- How New Core, Cloud Computing Are Transforming an Aussie Bank
- 2013 Forecast: The Hot Technologies That Will Define Banking
- Big data considered vital for majority of companies
Original Post: http://blogs.perficient.com/financialservices/2012/12/27/top-5-technology-trends-in-financial-services-december-2012/?utm_source=rss&utm_medium=rss&utm_campaign=top-5-technology-trends-in-financial-services-december-2012