As a result, TowerGroup envisages fundamental shifts in the way that banks will invest in enterprise technologies such as core systems, risk and compliance, business process management, business intelligence and customer knowledge.
Banks are investing in enterprise technologies that transform silo systems into more manageable sets of cohesive processes. The adoption of enterprise architectures involves turning around tactical efforts and using them to articulate more flexible and integrated technology solutions. To leverage tactical developments effectively, banks must have a strategic enterprise framework and road map to fulfil their customers’ needs more proactively.
Guillermo Kopp is vice-president of the cross-industry practice at TowerGroup, a leading advisory research and consulting firm focused on the global financial services industry. E-mail: gkopp@towergroup.com
