Banking IT Trend Radar

Banking IT Trend Radar 2013 - 2016 01/2013

Summary

Mobile Banking, experience banking, industrialisation and regulation, finance & risk are the 4 megatrends I have identified by applying John Naisbitt’s 11 mindsets for Banking IT.

Banking IT Trends

My main professional interests are to create future-proof IT landscapes for banks. One of the prerequisites to succeed is to have a sound understanding of Banking IT Trends.

There are many ways to identify trends and to predict the future. Most useful to me are the 11 mindsets outlined by John Naisbitt in his book “Mindset!” in 2006.

Following John Naisbitt’s approach I have identified 4 megatrends in Banking IT:

1.Mobile Banking – this includes the mobile Internet Banking, mobile payments, mobile marketing, NFC as well as tablet applications for mobile and branch sales force.

2.Experience Banking – in context of advisory banking for private and business customers banks will make use of “large tablet” technology, visualisation and simulation technology to better inform about financial matters. In order to achieve this banks will introduce new methodologies like design thinking and service thinking with focus on the user and the customer to create highly appealing and interactive applications.

3.Industrialisation – given the further consolidation of the financial industry we will see more technologies like integration and migration software that support the merging of banks. In context of the need for more efficiency I expect an increasing need for automation and workflow technologies. At the same time the legacy problem of many banks will become more apparent. Next generation CBS based on new technology already appear on the horizon.

4.Regulation, Finance & Risk – given the financial crises of the last years and the pursuit of higher control and compliance of governments we will see a couple of technologies that tackle the several regulatory requirements, including higher data quality and IT security.

John Naisbitt’s 11 Mindsets

Enclosed John Naisbitt’s 11 mindsets to predict future megatrends:

Mindset 1:While many things change, most things remain constant

Mindset 2:The future is embedded in the present

Mindset 3:Focus on the score of the game

Mindset 4:Understanding how powerful it is not to have to be right

Mindset 5:See the future as a picture puzzle

Mindset 6:Don’t get so far ahead of the parade that people don’t know you’re in it

Mindset 7:Resistance to change falls if beneﬁ ts are real

Mindset 8:Things that we expect to happen always happen more slowly

Mindset 9:You don’t get results by solving problems but by exploiting opportunities

Mindset 10:Don’t add unless you subtract

Mindset 11:Don’t forget the ecology of technology

Frank Schwab