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Retail Banking: Trends in omnichannel banking; Vertical and technology trends

Retail Banking: Trends in omnichannel banking; Vertical and technology trends

  • May 2016
  • ID: 4256072
  • Format: PDF
  • By GlobalData

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Summary
Omnichannel banking approach is the next generation of multi-channel banking. The omnichannel approach involves a harmonious integration between the different banking channels including online, mobile, social, ATMs, and physical branches. This approach modifies the customer experience from 'fragmented banking blocks' to ensure a seamless banking experience. The sharing and integration of consumer data at the back end of the omnichannel approach results in a unified consumer experience whether in sales, transaction or service.

Key Findings
- Retail banks are providing innovative customer services via beacons, internet of things (IoT), and wearable technologies.

- Mobility has been the biggest disruption of recent times, and a growing proportion of customers are now demanding banking applications on their mobile phones and smartphones.

- However, offering consistent banking services across all channels in an omnichannel scenario is one among the many other challenges faced by banks.

Synopsis
Current Analysis' Vertical Focus Report - Retail Banking: Trends in omnichannel banking depicts the business challenges faced by the retail banking sector in the omnichannel banking domain along with the recent demand side and supply side trends in this functional area. The report outlines the evolution of the omnichannel banking domain and identifies the key opportunity areas for the ICT vendors. This report also presents Current Analysis' view of the revenue opportunities in digital banking domain through to 2019, highlighting the market size and growth by geography and business function.

In particular, it provides an in-depth analysis of the following:

- The latest trends impacting the retail bank omnichannel banking market.

- The market trends (both supply-side and demand-side) that will facilitate the growth of the retail banking omnichannel market.

- The technology evolution of the market and vendor opportunities

- The market inhibitors that may hinder the pervasive adoption of omnichannel medium among retail banks.

- The primary findings from Current Analysis' view of revenue opportunities in the retail banking omnichannel market through to 2019, highlighting the market size and growth by function and regions.

- An identification of banks' IT budget allocation and IT priorities relating to omnichannel banking.

Reasons To Buy
- Understand the retail banks landscape, the recent trends, and inhibitors shaping the retail banking omnichannel market.

- Comprehend the retail banking omnichannel market evolution.

- Enhance your market segmentation by analyzing the revenue opportunity forecasts figure in the retail banking omnichannel market from 2015 to 2019, spanning its functions and geographies.

- Comprehend retail banks' IT budget allocation and prioritization of top IT projects in 2015

- Understand how retail banking omnichannel market opportunities are set to change in near future.

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