In other words, financial institutions have spent more than 25% of IT budgets on just these three transformative technologies in 2015, according to a new IDC Financial Insights Perspective, titled “Worldwide Financial Services 3rd Platform IT Spend 2014-2019 – Opportunities Abound”. According to IDC estimates, this will increase to almost 30% by 2019.
IDC also asserts that mobility is increasingly seen as an enabler to increasing sales, improving productivity, and delivering customer and employee satisfaction. The mobility elements comprising this topline forecast include mobile hardware (tablets, smartphones), mobile software (enterprise mobility management, mobile enterprise application development, mobile enterprise security, connectivity and policy management, mobile enterprise applications), as well as mobile services (wireless data, mobile enterprise services).
Financial institutions are embracing cloud for both efficiency gains in business processes and improvement in customer acquisition and experience. The cloud elements comprising this topline forecast include: software as a service (SaaS), platform as a service (PaaS) and infrastructure as a service (IaaS).
Big data and analytics (BDA) is instrumental in financial services in terms of accelerating innovation, driving optimization, improving compliance, and engaging customers by using data-driven decision making.
IDC Financial Insights assists financial service businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing fact-based research and consulting services.
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