Market Analysis
published on Oct 21, 2019
Report Overview:
NelsonHall’s “Operational Transformation in the Retail & Commercial Banking Sector: 2019” 42-page report is based on global interviewing of senior executives across the retail & commercial banking sector in four geographies: U.S., U.K., Continental Europe, and Asia Pacific.
In particular, the report analyzes the principal business issues faced by retail & commercial banks and the operational transformation initiatives planned in response to these issues by function and by technology.
It then addresses the extent to which BPS vendors will be involved in operations transformation, together with the key vendor characteristics sought in an operations transformation partner.
Who is this Report for:
NelsonHall’s “Operational Transformation in the Retail & Commercial Banking Sector: 2019” report is a comprehensive market assessment report designed for:
- Sourcing managers investigating operational transformation developments within the retail & commercial banking sector
- Vendor marketing, sales and business managers developing strategies to target operational transformation and business process services (BPS) opportunities within the retail & commercial banking sector
- Financial analysts and investors specializing in the IT services and BPS sector.
Scope of this Report:
The report is based on interviews with executives in the retail & commercial banking sector in the U.S., U.K., Continental Europe, and Asia Pacific.
The report analyzes the worldwide market for operational transformation and business process services within the retail & commercial banking sector and addresses the following questions:
- What are the principal business priorities faced by organizations in the retail & commercial banking sector?
- What benefits are sought from operational transformation by retail & commercial banks?
- In which functional areas are retail & commercial banks planning operations transformation initiatives?
- What initiatives are retail & commercial banks planning around key technologies such as analytics, AI, and blockchain?
- To what extent, and how, will BPS vendors be involved in operations transformation?
- What are the key characteristics sought in an operations transformation partner by retail & commercial banks?
- What levels of productivity gain are being targeted by retail & commercial banks?
Key Findings & Highlights:
Operational transformation remains critical to organizations in the banking sector as they continue the move from bricks & mortar to digital banking for both their retail and commercial operations and is regarded as highly relevant by 92% of retail & commercial banks.
In order to achieve operational transformation:
- Removing customer and operations friction is paramount
- Real-time analytics is coming to the fore alongside RPA
- Banks will involve BPO firms in transforming their internal operations, and 83% of retail & commercial banks would consider operations transfer to achieve end-to-end operational synergy.