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Impact of Digital on IT Services in the Commercial Banking Sector: 2022

Market Analysis

by Eric Levine

published on Apr 14, 2022

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Report Overview:

NelsonHall’s “Impact of Digital on IT Services in the Commercial Banking Sector: 2022” 45-page report is based on global interviews of senior executives across the commercial banking sector in four geographies: U.S., U.K., Continental Europe, and the Asia Pacific.

The report identifies the principal business issues faced by commercial banking companies over the period 2022-2022, the IT and digital initiatives planned in response to these issues, and their anticipated changes in IT spend and sourcing.

Who is this Report for:

NelsonHall’s “Impact of Digital on IT Services in the Commercial Banking Sector 2022” report is a comprehensive market assessment report designed for:

  • Sourcing managers investigating sourcing developments within the commercial banking sector
  • Vendor marketing, sales, and business managers developing strategies to target IT services (ITS) opportunities within the commercial banking
  • Financial analysts and investors specializing in the IT services

Scope of this Report:

The report is based on interviews with executives in the commercial banking sector in the U.S., U.K., Continental Europe, and the Asia Pacific.

The report analyzes the worldwide market for IT services within the commercial banking sector and addresses the following questions:

  • What are the principal business priorities faced by organizations in the commercial banking sector?
  • What IT initiatives are planned by organizations in the commercial banking sector?
  • How relevant are digital initiatives to organizations in the commercial banking sector?
  • What digital initiatives are planned by organizations in the commercial banking sector?
  • What business areas are targeted for digital initiatives by organizations in the commercial banking  sector?
  • What are the key selection criteria used by organizations in the commercial banking  sector to select suppliers to implement digital initiatives?
  • What shifts in Run the Business (RTB) vs Change the Business (CTB) are expected by executives in the commercial banking  sector in the coming year?

Key Findings & Highlights:

The principal business priorities for commercial banks are primarily focused on customer-facing initiatives to reduce their customer churn and increase their wallet share by improving customer satisfaction and service innovation and improved use of business & customer analytics.

Accordingly

  • Digital remains key to increasing revenues per customer for commercial banks
  • Fraud operations remain a center of focus for digital initiatives within commercial banks
  • Application modernization remains a key initiative
  • Cloud-native development capability has become a key vendor selection criterion.

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