openPR Logo
Press release

New Take on Retail Banking: A Technical Blueprint for Digital Excellence in 2021–2025

06-03-2021 11:31 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Intellias

New Take on Retail Banking: A Technical Blueprint for Digital

Intellias has released an exclusive whitepaper titled “Preparing for the new growth cycle: a technical blueprint for banks” that provides an outlook for the retail banking industry from 2021 through 2025 and highlights the technical imperatives for banking leaders to prioritize in the short-term perspective.

Intellias research focuses on the three major drivers that will determine the shape of the banking industry recovery: consumer sentiment and shifting behaviors, competitive pressure from FinTech and digital-first banks, and economic and regulatory uncertainty.

The whitepaper discusses how the global pandemic accelerated existing digitization trends and led to a cohort of new behaviors that are poised to stay for the long term:

- Online and mobile banking is the preferred means of interaction

- Contactless and digital payments will remain prioritized post-pandemic

- Mobile onboarding, self-service support, and personalized advisory services are in high demand among younger consumer demographics

Despite this, most banking leaders are grappling to determine if they have the available IT infrastructure to differentiate themselves and excel over the competition.

The whitepaper also covers changes in the competitive landscape. Mature digital banks and FinTechs present a sizable threat to traditional players. Already, over 20% of retail banking and payment profits are poised to migrate from traditional players to digital competitors. What’s more important is that the profit erosion by digital players is taking place in the most profitable product segments — wealth management, remittances, and lending, among others.

In addition to the above, regulators are imposing extra demands in terms of data and infrastructure security. A fast and effective response to new compliance demands will also separate leaders from laggards.

To prepare and capitalize on the above changes, Intellias has developed a three-step approach to technical transformation that banking leaders should prioritize. The framework covers:

- Approaches to detangling conflicting business priorities and technical infrastructure requirements for enabling them

- A sustainable, paced approach to dealing with technical debt and pursuing legacy system modernization

- New approaches to IT operations management, required to attain digital excellence (DevOps, SecOps, data governance)

Retail banking leaders may be tempted to put off taking action due to the lingering economic uncertainty and the tempered prognosis for the banking sector’s recovery. Banking systems in the US, the UK, France, Germany, and Spain are unlikely to recover until 2023. However, this gives banks headroom for advancing technical initiatives and entering the new growth cycle with a far better digital posture.

To request your copy of the whitepaper, click here: https://www.intellias.com/technical-blueprint-for-banks-whitepaper/

Intellias, Panasa Myrnoho 24, 79034 Lviv, Ukraine

About Intellias

Intellias (https://www.intellias.com/) is a trusted technology partner to financial services providers, offering a spectrum of consultancy, engineering, operations, and technology services. Over the past 19 years, Intellias has helped banking and FinTech leaders in Germany, the Netherlands, the US, and the UK deploy innovative customer-facing solutions and modernize their technical infrastructure.

The company offers proactive guidance on adopting emerging technologies — AI, machine learning, predictive analytics — as well as enhancing existing cloud and on-premises assets. Through in-depth assessments, Intellias consultants help financial institutions locate underlying inefficiencies in their technical infrastructure and plan paced, sustainable actions aimed at prioritizing quick wins.

Intellias has the competence, scalability, and experience to help you technologically prepare for the new bend in the banking industry. You can reach our consultants at info(at)intellias(dot)com or visit us at our offices in Berlin, Krakow, Lviv, Kyiv, Kharkiv, Odesa, and Ivano-Frankivsk.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release New Take on Retail Banking: A Technical Blueprint for Digital Excellence in 2021–2025 here

News-ID: 2296861 • Views: 351

More Releases from Intellias

Intellias Releases Its Forward-Looking Study on Edge Cloud Computing: Opportunit …
Intellias presents the synergy of cloud and edge computing as an exclusive approach to building advanced IoT ecosystems December 2020 — Intellias, a trusted provider of technology innovations critical for organizations’ growth and success in today’s digital era, released its latest report on edge cloud computing. In its whitepaper, entitled “Сloud + Edge: A Powerful Combo for Next-Gen Ecosystems,” Intellias introduces the combination of cloud and edge technologies as
Intellias Names President of North America Region
LVIV, UKRAINE and MIAMI, FLORIDA, USA – Intellias, a leading supplier of software development services operating in locations throughout EMEA, with 1,500 employees, today announced that it has hired Michael Labate as President, North America. Labate will sit on the executive team of Intellias reporting into Chief Executive Officer, Vitaly Sedler. "We’re excited to welcome Michael as Intellias new President of North America. Ensuring that we have the right person join our
Global Retail Technology Market Status and Outlook: Intellias RetailTech Whitepa …
In July 2020, Intellias, a trusted IT partner to Fortune 500 retailers and top global brands, has released a new executive whitepaper titled “Evolving RetailTech: Winning Competition in the Digital Era.” Blazing-fast growth of the retail market poses numerous complex challenges for all players. Some of the most important ones are ensuring cybersecurity and creating a unique customer experience. To undertake these complicated tasks, some retailers and brands implement artificial
In-depth Research on Agriculture Technology Ecosystems Has Been Released by Inte …
Intellias has released its recent whitepaper on the acute topic of "Sustainable Agriculture: From Tech Solutions to Ecosystem"(https://www.intellias.com/sustainable-agriculture-whitepapper) in the light of the global challenges imposed to farmers and agricultural companies looking for a brand-new technological approach to digital farming. Based on in-depth research, this whitepaper examines proven agricultural technologies and how to combine them into a unified ecosystem that enables farmers to move toward sustainable agricultural practices. Intellias'

All 5 Releases


More Releases for Retail

India Retail Market Top Key Players – Reliance Retail, V Mart, D Mart, Pantalo …
Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. With the arrival of several new players, Indian retail has become one of the most dynamic and fast industries. The sector is the largest source of employment after agriculture and has deep penetration into rural India generating more than 10 per cent of India’s GDP. With the advancement in
Retail IoT Software Market 2020-2026 | Coffee Cloud, Honeywell Connected Retail, …
The Research Insights has included a report, titled a global Retail IoT Software market to its extensive repository. This analytical report has been compiled by using primary and secondary research techniques. The global market research report offers in-depth analysis of global market trends, platforms, drivers, restraints and opportunities. It also presents a complete overview of the global market with respect to current statistics, historical records, and future predictions. Retail IoT software
Global Organized Retail Market 2019 - Pantaloons Retail, Reliance Retail, Shoppe …
Organized retailing is the process of selling goods or merchandise all under one roof in a fixed location such as a departmental store, hypermarket, supermarket or even a convenience store. Organized retail also includes internet retailing, which is the process of buying and selling products and services, such as COD, card on delivery, or trial services, through the internet. Get Free Sample Copy of Report Here: http://bit.ly/2DdvEVA Scope of the Report: This report
Retail Display Industry Segment Analysis by Product Type Touch-screen retail dis …
The displays that are used in retail applications like POS systems, kiosks, ATMs, and digital signage are referred to as retail displays. The touchscreen displays segment in the retail sector accounted for the maximum market share during 2017. In 2018, the global Retail Display market size was xx million US$ and is forecast to xx million US in 2025, growing at a CAGR of xx% from 2018. In this study,
Global Retail Management Software Market 2017 - Cegid, OpenXcell Technolabs, Vis …
Global Retail Management Software Market 2017 Survival Strategies explore Economic Impact in Global Industries Manufactures, Growth, Size, Share, Trends, Development Challenges and Opportunities till 2022 A Research study on " Global Retail Management Software Market 2017-2022 " represent the market share and size of Retail Management Software in international Industry. MRS Research Group added latest market research report by QY Research. Research Report provides an essential information and statistically evaluated data
Retail Scales
To enhance the portfolio and offering to the UK retail trade. Bizerba (UK) Ltd have expanded their offering of products to the portfolio. To accompany the additional products an added service to the retail trade is on site viewings. The service includes the entire retail product range which includes software and Meat and food slicers. All you have to do is contact Bizerba and book an appointment with the local