IDC Financial Insights has revealed its 2012 top 10 predictions for the EMEA financial services industry.
Rachel Hunt, EMEA banking research director at IDC Financial Insights, says: "IT spending will be sluggish at best with a forecast growth of 3.8 per cent and banks will be challenged to balance business growth with capital optimisation priorities. However, there will be pockets of investment, in particular around analytics, cloud and mobility."
Top 10 as follows:
1. IT budgets will increase by just 3.8 per cent as banks focus on survival.
2. Institutions will seek additional operational efficiencies and cost savings in every technological and operational corner.
3. Spending on risk management leads the way for IT budgets, with anticipate growth of 6.8 per cent: driven by heavier regulatory burden and a compelling need to enrich analysis around key business performance indicators.
4. Compliance programs around capital optimisation finally kick-start dynamic, risk-based sales and marketing: capital optimisation efforts extend to the front office.
5. Industry-led hybrid cloud initiatives see mass adoption as the cost of regulation strangles margins.
6. Banks will increase the use of analytics as they continue to deleverage their lending portfolio: capital adequacy requirements drive the need for advance analytics.
7. Mobility, social and crowdsourcing will become key differentiators in banks' channel mix: banks move from informational to transactional.
8. In-memory computing will appear on banks' radar screens. analysing data in near real-time for decision-making purposes.
9. The financial services sector will experience an ever-increasing number of security attacks: mobile and social are the new targets.
10. Mobile payments will continue to be a slow burn with competition intensifying.
A complete list of the published IDC reports on 2012 predictions can be accessed via: http://www.idc.com/research/Predictions12/Main/index.jsp#financial-insights
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