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Archive for the ‘Banking’ category

The Next Growth Opportunity for Banks

January 28th, 2011

I’ve just been reading a survey report from Cisco Internet Business Solutions Group titled ‘The Next Growth Opportunity for Banks‘. I have to say, the results of the survey are consistent with both my own experience and that of some well regarded banking figures.

The main findings of the survey are that banking institutions will need to meet the growing demand for:

Automated advice, such as PFM (Personal Finance Management) capabilities, to help customers gain control of their finances
High-quality video interactions to provide on-demand advice in branches and at home
Community-of-interest and social networking venues to offer virtualised, on-demand advice.

If this is all to be realised, it will mean exciting times for those like me who are involved in IT delivery within the banking sector. The challenge, of course, will be delivering on the promise in today’s constrained financial environment.

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Posted in Banking

Bank 2.0

November 11th, 2010

We are all aware of the devastation that has occurred over the past few years in the banking sector. This has had a profound effect on the banking industry as well as on the people who have trusted this industry to safeguard their hard earned cash and retirement plans. People are more skeptical of the banking industry and are becoming more demanding of the services it provides.

Of course, this skepticism is not all down to the banking crisis but can also be attributed to the way people’s behaviours have changed over the last decade or so. These changes are primarily attributable to the internet and\or the demands modern living places on people’s schedules.

On the recommendation of a colleague, I picked up a copy of Bank 2.0 in which Brett King uses his extensive knowledge of the banking industry across the globe to explain why a paradigm shift is imminent in the banking industry and what banks are doing (or should be doing) to prepare for the challenge.