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The Future of IT in Finance 

  • September 2015
  • -
  • Frost & Sullivan
  • -
  • 75 pages

The Future of IT in Finance : An End User Perspective, U.S., Europe, and Latin America

The financial industry is a dynamic, ever-changing one due to new regulatory requirements and dependence on the world’s economy. This study explores the challenges for IT departments, most effective technologies in meeting business challenges, and future investments.

Research Objectives

The overall research objective is to measure the current use and future decision making behavior toward information technology (IT) within the financial sector, specifically: smart phones, tablets, mobile apps, cloud computing, video, audio, and web conferencing, Internet protocol (IP) telephony, company and consumer social media, unified communications client (UCC), time-division multiplexing (TDM) phones, business grade and consumer softphones, customer relationship management (CRM), headsets, machine-to-machine (M2M) communications, and mobile device management (MDM). Specifically, Frost & Sullivan aims to:

- Understand the IT-related challenges organizations face today
- Asses the current and future use of company communications technologies
- Evaluate factors that drive investments in company communications technologies
- Gauge the communications infrastructure trends
- Appraise the available IT budgets
- Measure workface impact on IT

Executive Summary

The financial industry is a dynamic, ever-changing one due to new regulatory requirements and dependence on the world’s economy. A few of the major findings in this study include:

- The greatest challenges for IT departments are 1) making effective and timely investments and 2) dealing with new regulatory requirements.
- The primary focus for financial companies is margin when it comes to investing in IT.
- Consumer softphones and social media are most prevalent in the financial industry.
- Malware is of the greatest concern when it comes to security risks.
- Social media has been very effective in improving employee productivity.

Table Of Contents

The Future of IT in Finance 
1 RESEARCH OBJECTIVES AND METHODOLOGY

Research Objectives and Methodology
1. Research Objectives
2. Methodology
3. Methodology

2 EXECUTIVE SUMMARY

Executive Summary
1. Executive Summary

3 ATTITUDES TOWARD GENERAL BUSINESS APPLICATIONS OPPORTUNITIES IN THE FINANCIAL INDUSTRY

Attitudes toward General Business Applications Opportunities in the Financial Industry
1. Major Challenges for IT in the
2. Major Challenges for IT by
3. Major Challenges for IT by Region
4. Major Challenges for IT by Type of Organization

4 INFLUENTIAL FACTORS ON IT INVESTMENTS IN THE FINANCIAL INDUSTRY

Influential Factors on IT Investments in the Financial Industry
1. Primary Drivers for IT Investments
2. Primary Drivers for IT Investments Company Size
3. Primary Drivers for IT Investments
4. Primary Drivers for IT Investments

5 CURRENT AND FUTURE USE OF IT IN FINANCIAL INDUSTRY

Current and Future Use of IT in Financial Industry
1. Current Usage of IT
2. Current and Future Usage of IT
3. Current Usage of IT by Company Size
4. Current Usage of IT
5. Current Usage of IT
6. Technology Deployment
7. Frequency of Technology Use within the Organization
8. Effectiveness of IT in Addressing Top Business Challenges
9. Business Challenges-Dealing with New Regulatory Requirements
10. Business Challenges-Automating and Streamlining Business Processes

6 IMPACT OF INFLUENTIAL FACTORS ON IT IN THE FINANCIAL INDUSTRY

Impact of Influential Factors on IT in the Financial Industry
1. Technical Note: Understanding Perceptual Maps
2. Perceptual Map: IT and Influential Attributes: Financial Industry

7 OPPORTUNITIES WITH VENDOR RELATIONSHIPS IN THE FINANCIAL INDUSTRY

Opportunities with Vendor Relationships in the Financial Industry
1. Communications Infrastructure, Current Usage
2. Communications Infrastructure, Current and Future Usage
3. Reasons for Not Using Certain IT Solutions
4. Reasons for Not Using Certain IT Solutions
5. High Security Risks

8 IT AND CLOUD COMPUTING IN THE FINANCIAL INDUSTRY

IT and Cloud Computing in the Financial Industry
1. Criteria When Selecting a Cloud Provider
2. Criteria When Selecting a Cloud Provider by Company Size
3. Criteria When Selecting a Cloud Provider by Company Size
4. Attitudes toward Use of Cloud Computing/Hosted Communications
5. Satisfaction with Cloud Computing Use by Company Size
6. Satisfaction with Cloud Computing Use by Region
7. Attitudes Toward Cloud Computing by Non Users
8. IT Deployment in the Cloud
9. Current Deployment of IT in the Cloud Industry
10. Current Deployment of IT in the Cloud
11. Current Deployment of IT in the Cloud
12. Current Deployment of IT in the Cloud

9 SOCIAL MEDIA STRATEGIES IN THE FINANCIAL INDUSTRY

Social Media Strategies in the Financial Industry
1. Use of Customer-Facing Social Media
2. Implementation of Customer-Facing Social Media
3. Current Implementation of Customer-Facing Social Media by Company Size
4. Effectiveness of Customer-Facing Social Media to Increase the Organization's Revenues
5. Use of Social Media for Internal Collaboration
6. Implementation of Internal Employee Collaboration Social Media Strategies
7. Internal Employee Collaboration Social Media Strategies Fully Implemented by Company Size
8. Potential Benefits of Social Media within the Organization

10 MOBILE DEVICES IN THE FINANCIAL INDUSTRY

Mobile Devices in the Financial Industry
1. Company Supported Mobile Operating Systems
2. Personal Devices Allowed to Connect to Company Network (Bring Your Own Device)
3. BYOD Policy and Enforcement

11 AVAILABLE IT BUDGETS FOR IT IN THE FINANCIAL INDUSTRY

Available IT Budgets for IT in the Financial Industry
1. The Big Picture of IT Budgets

12 IMPACT OF THE WORKFORCE ON IT

Impact of the Workforce on IT
1. Distribution of Worker Types by Industry

13 PROFILE

Profile
1. Country of Residence and Years in IT: Financial Industry
2. IT Decision Making Role and Job Title: Financial Industry
3. Companies' and Respondents' Geographic Reach: Financial Industry
4. Company's Global Annual Revenues: Financial Industry

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