Ethan Wang, Research Director of Banking & Investment Services of Gartner, believes that there are four key elements are driving the changes in banking industry’s IT investment in the next couple of years: the cloud computing, mobility, social media and big data. Gartner believes that digital banking and digital financial services is the future of the industry’s banking IT investment.
According Ethan Wang, the IT investment in banking industry could be divided into two categories: back- and front-end IT investment and innovations. The back-end IT investment involves cloud (virtualization) and open banking architecture. And the front-end has three elements. First is how to move the traditional business to digital channels, such as creating the next generation of digital branch and digital ATM, as well as mobile banking and social media integration. Second is about leveraging the ICT technologies such as P2P landing, and new payment process like mobile payment and digital wallet. The third area is about data mining and analytics.
