Despite the rough waters ahead, banks are expected to pursue or engage in a number of significant marketing and technology initiatives in 2006.
Boston, MA, January 9, 2006 – In a new report, Aite Group highlights the top ten U.S. banking industry trends it foresees in 2006. After three consecutive years of annual profits exceeding US$100 billion, U.S. commercial banks are thriving. In 2006, however, between volatile interest rates, bad loans, declining demand for mortgage financing, and regulatory compliance pressures, U.S. banks will find themselves navigating through rough waters. But while risk and compliance issues will remain at the forefront, Aite Group predicts that U.S. banks will nonetheless engage more aggressively in pursuing untapped customer segments, marketing innovative products, refreshing key components of their technology infrastructure, leveraging the Internet better to attract new customers and cross-sell to existing ones, and battling at the point-of-sale to deliver more value to merchants and consumers.
This is a 8-page Impact Note. Clients of Aite Group's Retail and Wholesale Banking services can download the report.