The Economist Intelligence Unit (EIU), on behalf of Temenos, surveyed 405 global banking executives on the changes they see taking place in their industry to 2020 and 2025, their organisational response, and the longer-term impact on their strategic development. This focuses on how these retail banks are incorporating and advancing technology delivery for their current and future customers.
The survey is part of a global research programme on retail banking, which includes in-depth interviews with retail banks, fintechs, and regulators from North America, Europe, Africa and the Middle East, Asia-Pacific, Latin America.
Read the full report to find out what Nordea, Nationwide Building Society, Varo Money, Volt Bank and Vancity amongst other are thinking about digital banking, innovation strategies and investment focus.
Download this report to find out where retail banks are focusing their priorities and digital investments, key highlights includes:
- Open banking is seen as a true opportunity; four in ten banks see their business models evolving towards becoming a digital ecosystem;
- Three in five respondents expect banks to deploy more computing power in the public cloud by 2025 than they currently deploy in all the private cloud data centers;
- New technologies like AI, machine learning, and blockchain have replaced changing customer behaviour and demands as the key driver of strategic thinking at banks around the world in the short (36%) and longer term (42%).