Reminders

Financial Services Tech Forum

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An interesting trend has emerged in the 14 years that IDC Financial Insights has been tracking the performance of the top technology organizations that support the financial services industry worldwide. The Goliaths of the technology industry, those firms whose total revenues represent their breadth of solutions and services across many vertical industries, are losing ground to those relatively smaller IT firms that focus on financial services as their main markets. The shift has been dramatic, especially over the last 5 years, and it portends a future where industry focus may be they key to financial success.


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Digital transformation is a huge undertaking at banks worldwide, with 96% of banks we've recently surveyed reporting some sort of DX strategy at their institutions. But one fundamental aspect of DX involves the recognition that banks don't need to own the whole value chain, and in fact it may be beneficial to work with technology partners and fintechs to create new value chains in which they play only selected roles. But will customers buy into this concept? And is it necessarily a better model than owning the whole chain? And what happens to the bank's hard-won brand?


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I've been having an inordinate number of conversations around Banking as a Platform lately. With the adoption of 3rd Platform technologies like cloud, BaaP is an appealing business model. Will it prove to be tenable long-term?


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Navigating the Waters of Global Banking

By Jerry Silva

“To reach a port we must set sail –
Sail, not tie at anchor
Sail, not drift.”

― Franklin D. Roosevelt


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IDC welcomes all of the outstanding technology providers that made it to the 2015 IDC Financial Insights FinTech Rankings to join us for a celebratory evening on the eve of FinovateFall at the New York Hilton Midtown on Tuesday, 9/15. I hope to see you all there!


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Workforce optimization tech provider Verint has undertaken a fascinating initiative to document and improve the way it engages its customers across all of the industries it serves, including financial services. This initiative, which they call the Customer Experience Journey, although created with the humble goal of improving client relationships, has far-reaching implications for the highly-regulated financial services industry, where vendor partners have become more and more strategically important to the institution, and where IT providers have come under increased scrutiny in the context of 3rd party risk.


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Disruption Defined

By Jerry Silva

We keep talking about disruption as if it was a singularity with standard, globally accepted boundaries around it that let's us all see it in the same light, as the same thing. But while writing on the next ten years of IT disruption in banking, it turned out to be an exercise like that undertaken by the six blind men describing an elephant; is it a wall? a spear? a snake? a tree? a fan? or a rope? It turns out, of course, that it's all of those, and can only be really seen in its entirety.


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Game of Threats

By Jerry Silva

(Full disclosure, clever title, but not mine)

One of the challenges for the Chief Security Officer is convincing his or her executives of the unpredictable and potentially catastrophic nature of cyber attacks directed against the organization. The rules are constantly changing and many attacks are invisible to the CSO until some real damage has already occurred. During the PwC analyst day in Boston on Oct 28, I participated in a "gamified" demonstration of an experience that simulated a cyber attack, with one participant playing the role of the hacker, and the other, me in this case, responding as the CSO. The demonstration was eye-opening, and made the normally conceptual event more real and thought-provoking.


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The Coolest Thing I Saw at SIBOS

By Jerry Silva

For those of you who have attended SIBOS, you know it's usually a dry event, lots of business suits, lots of serious discussion - not necessarily an event where the term "wow factor" is oft used. But I found a demonstration, along the outermost banks of vendor booths, that I think could define the future of transaction banking for corporations.


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2014 FinTech Sneak Peek

By Jerry Silva

The 2014 FinTech Rankings are all set to be released on Monday, Sept 29. Here's a quick look at some of the highlights extracted from the results ths year...


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  • 50 to 60 Billion Dig…
    Michael Versace says:
    This just popped up again.  Am interested in updating this forecast.  Would anyone be interested to renewing the model?
    2 months ago
  • 50 to 60 Billion Dig…
    Michael says:
    25% and we're there, mark of the beast. Finally! 
    2 months ago

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