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Emerging Trends Radar for Financial Services. Kristin Moyer Industry Advisory Services: Banking & Investment Services. The Most Important Emerging Technology Trend in 2012: From Siloes …. Cloud. Mobile. Social. Information. …To a Nexus of Forces. Mobile. Cloud. Social. Information.

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emerging trends radar for financial services

Emerging Trends Radar for Financial Services

Kristin Moyer

Industry Advisory Services:

Banking & Investment Services

the most important emerging technology trend in 2012 from siloes

The Most Important Emerging Technology Trend in 2012:From Siloes…

Cloud

Mobile

Social

Information

to a nexus of forces

…To a Nexus of Forces

Mobile

Cloud

Social

Information

NEXUS

key issues
Key Issues
  • What is the financial services outlook for 2012?
  • What is the emerging trend radar for financial services?
  • How can Deloitte increase financial services revenue in 2012?
banking investment services ceos are gloomy about 2012 prospects
Banking & Investment Services CEOs are Gloomy About 2012 Prospects

IT Spend Forecast, Total Spend, 2011-2013 ($USD Millions)

IT Spend Forecast, Growth, 2011-2013 (%)

Source: Forecast: Enterprise IT Spending for the Banking and Securities Market, Worldwide, 2009-2015, 4Q11 Update

life and p c insurance ceos are not as gloomy but more conservative in 2012
Life and P&C Insurance CEOs are Not as Gloomy, but more Conservative in 2012

IT Spend Forecast, Total Spend, 2011-2013 ($USD Millions)

IT Spend Forecast, Growth, 2011-2013 (%)

Source: Forecast: Enterprise IT Spending for the Insurance Market, Worldwide, 2009-2015, 4Q11 Update

emerging trend radar screen for financial services
Emerging Trend Radar Screen for Financial Services

more than 10 years

Technology

Business

Societal

Employee-less Financial Institution (Artificial Intelligence)

Complementary Currencies more Important than Fiat Currencies

Extreme Individualization

P2P Insurance, Banking

Payment Services Hub

Application-less Financial Institution

5 to 10 years

Customer-level P&L

Application PaaS

Radical Transparency

Hyperdigitization

E7 FI Assets Eclipse G7

2 to 5 years

Big Data

Value Added Services Revenue Model

Component-based Core Applications

Customer Control (“My ‘Bank’ Card”)

Cloud Financial Services

Open Development Platforms

FS-specific App Stores

Social Commerce

Re-engineering Profitability

PFM

Mobile

less than 2 years to mainstream adoption

Micro-products

Context-Aware Computing

incorporate personal financial management in all products and services
Incorporate Personal Financial Management in all Products and Services

Next Two Years

Wells Fargo: My Spending Report

your mobile strategy is a ticking time bomb
Your Mobile Strategy is a Ticking Time Bomb

Next Two Years

Your financial institution may have a mobile banking/insurance strategy and mobile payments strategy

But without an enterprise mobile financial services strategy…

Your firm doesn't have a strategy to drive real revenue-leveraging mobility

create context aware experiences
Create Context-Aware Experiences

Customer Technology Environment

Next Two Years

Customer Location

Complex

Customer Location : physical, social and virtual location and context, their identity or role at that time.

Customer Technology Environment : choice, and availability (physical, battery life, etc ), operational competence, for both the technology and network

Customer Need : customer objective, intent or desired outcome for their financial services need

Customer Need

Simple

Complex

13

deliver services at the nexus of mobile social cloud and information
Deliver Services at the Nexus of Mobile, Social, Cloud and Information

Next Two Years

The Internet of Everything is Here…

everything

= connected asset

= URL

physical objects

information

people

= WWW & web services

systems

= Profile w/ social graph

virtual entities

places

= Activity stream and check in

five things deloitte can do to increase financial services revenue in 2012
Five Things Deloitte Can Do to Increase Financial Services Revenue in 2012

Financial institutions use IT to thrive amidst turmoil in 2012 if they:

  • Help CIOs close the disconnect with CEOs/CFOs
  • Avoid wasted IT investments
  • Develop an enterprise mobile financial services strategy
  • Create context-aware financial services experiences
  • Harness the opportunities (and address the challenges!) at the nexus of cloud, mobile, social and information
emerging trends radar for financial services1

Emerging Trends Radar for Financial Services

Kristin Moyer

Email: kristin.moyer@gartner.com

Phone: +1.303.384.0131

To schedule a client inquiry, please contact:

Email: vertical.industries@gartner.com

Phone: +1.203.316.1122 or 44 1784 26 7997