Boston, July 18, 2017 – Regulatory pressures, an increasingly demanding customer base, and growing expectations around technology and user experience are challenging banks to alter their IT buying behaviors. No longer building all their technology in-house, today’s large banks are far more disposed to consider offerings built by technology partners or even hosted in private clouds. Is an industry-wide, global change in mindset taking place?
Based largely on phone interviews with executives who have extensive IT responsibilities at large financial institutions, this report highlights some of the key ways in which large banks’ buying behaviors are evolving, analyzes large banks’ top IT priorities, and points out the growing industry focus on application programming interfaces.
This 21-page Impact Note contains four figures and five tables. Clients of Aite Group’s Wholesale Banking & Payments or Retail Banking & Payments services can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions BBVA, Bill.com, Capital One, Fundation, Gusto, JPMorgan Chase, Kabbage, Lending Club, Moven, OnDeck, Regions Bank, Santander, TD Bank, and Union Bank.