London, 19 November 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Bank IT Spending Market 2014-2018, which is expected to grow at a CAGR of 4.75 percent during the forecast period of 2013-2018.
“The faster adoption of online and mobile banking has led to new interfaces between banks and different channels. Banks are aggressively upgrading legacy systems into digital systems for the integration of various channels,” says Faisal Ghaus, Vice President of TechNavio.
“Banks are increasingly focusing on developing cross-channel solutions that allow customers to switch channels during their interaction with the banks.”
Key Market Drivers
- Increased Usage of BI Software in Retail Banking
- Rise in Adoption of Customer-centric Core Banking
- Increased Regulatory Needs
- Surge in Outsourced Banking Projects
Key Market Trends
- Adoption of Big Data Analytics
- Transformation of Banking Channels
- Increased Focus on CoreBanking Transformation
- Rise in Usage of Customer Analytics
Key Market Vendors
- Dell Inc.
- Hewlett-Packard Co.
- IBM Corp.
- Microsoft Corp.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
