Retail banking technology is fundamental to the next generation of banking products. KPMG have recently released Banking Outlook 2014: An Industry at a Pivot Point which makes a good case for some industry-wide changes that will force banks to adapt. If you don’t have time to read the report (it’s about 30 pages, but with somewhat sparse text) I suggest skimming the executive summary in the press release.
I thought I’d connect the business drivers behind the pivot to technology initiatives that I’d recommend to support them. (I guess this week I’m thinking about how to get business & IT better aligned.)
Here’s an intro to the report:
The following quote from the video struck me:
Banks are not designed to provide [the services they need to provide going forward] in a meaningful way.
Why not? [Read more…]