Top Trends in Retail Banking 2015

Digital Reigns, Complexity Intensifies
by Daniel Latimore, April 8, 2015
Industry Trends
Global

Abstract

Celent identifies ten key trends affecting bankers over the course of 2015.

Celent began in 2014 to examine financial technology through the lens of three themes:

  • Digital and Omnichannel
  • Innovation and Emerging Technology
  • Legacy and Ecosystem Transformation

“We’ve found Digital to be increasingly top of mind for our clients over the last couple of quarters; culture will have to catch up to technology,” says Dan Latimore, senior vice president of Celent’s Banking practice and author of the report.

These themes help bring some order to the chaos that is today’s financial technology environment, and so we’ll examine our ten top trends through these organizing principles.

Celent’s top trends are:

  1. Meeting Mobile Demand
  2. Operationalizing Omnichannel
  3. Engaging Entrants — Fintech and Otherwise
  4. Coming to Terms with Cloud
  5. Increasing Innovation Investment
  6. Embracing Emotions
  7. Ceding Ecosystem Centrality
  8. Securing Systems
  9. Responding to Regulations
  10. Changing the Core Perspective

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

3

Digital and Omnichannel

4

 

1. Meeting Mobile Demand

4

 

2. Operationalizing Omnichannel

5

 

3. Engaging Entrants — Fintech and Otherwise

5

Innovation and Emerging Technologies

7

 

4. Coming to Terms with Cloud

7

 

5. Increasing Innovation Investment —Tangibly

7

 

6. Embracing Emotions

8

Legacy and Ecosystem Transformation

9

 

7. Ceding Ecosystem Centrality

9

 

8. Securing Systems

10

 

9. Responding to Regulations

10

 

10. Changing the Core Perspective

11

Other Trends to Monitor

12

 

Digital Currencies and Blockchain Technology

12

 

Internet of Things

12

 

Wearables

13

Path Forward

14

Leveraging Celent’s Expertise

15

 

Support for Financial Institutions

15

 

Support for Vendors

15

Related Celent Research

16

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