TechNavio recognizes the following companies as the key players in the Global Retail Banking IT Market: Dell Inc., Hewlett-Packard Co., IBM Corp., and Microsoft Corp.
Commenting on the report, an analyst from TechNavio’s team said: “The use of mobiles for banking services has now become extremely common. Customers are readily shifting from PCs and laptops to mobiles to manage their finances and bank accounts. The availability of affordable mobile devices has made this possible. Moreover, these devices are quite powerful and are efficient enough to perform the work of PCs and laptops. The technology makes it convenient for customers to get in touch with the bank avoiding visits to the branch. In 2012, several banks globally invested in IT initiatives to develop the online experience of their customers. Banks are also able to better manage customers at a lower cost through mobile banking. More spending initiatives are expected to follow in the next couple of years till 2016. Banks will need to figure out the mix of digital channels that will help them gain maximum returns in the years to come.”
According to the report, one of the main growth drivers of the Global Retail Banking IT Spending market is the growing need for customer satisfaction. Therefore, newly developed channels such as mobile and internet are becoming an important component of retail banking. The number of customers that are using the internet and mobile devices for banking is also increasing at a tremendous rate. Thus, banks are always on the lookout for innovative technologies that would help them serve their customers to manage their financial affairs regardless of time and location.
Further, the report states that one of the major challenges in the market is meeting the diverse needs of customers. Advancements in the technology and the adoption of these updated technologies by customers are forcing banks to quickly adopt best fit technology to remain in the competition.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Fujitsu Ltd., Accenture plc, Cisco Systems Inc., Oracle Corp., Intel Corp., Wipro Ltd., Intuit Inc., HCL Technologies, SAP AG, FIS Pvt. Ltd., Unisys Corp., Infosys Ltd., Teradata Corp., and Cap Gemini S.A.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-retail-banking-it-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Retail Banking IT Market 2012-2016
