The annual ICT spending of Banorte was estimated at $507 million in 2021. A major share of this spending is earmarked for acquiring hardware, software, and network and communications from vendors. Banorte is a financial services group that offers a range of banking and related financial solutions.
The Banorte enterprise tech ecosystem report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, ICT spending among others.
Digital Transformation Strategies
Banorte entered into a 10-year strategic agreement with IBM in 2013, to create a new customer centric banking model. IBM helps Banorte implement big data and analytics technologies across the company’s customer service channels and deliver personalized products and services. Banorte also established the Analytics Business Unit, which aims to leverage data analytics to better understand customers and make informed business decisions. The unit works with Banorte’s data governance team for end to end implementation of analytics projects.
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Banorte Technology Theme Focus
Banorte is utilizing number of emerging technologies including artificial intelligence, big data, cybersecurity to improve operational efficiency, diversify product portfolio, and enhance customer experience.
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Banorte Technology Initiatives
Banorte has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs over the past few years.
For instance, Banorte formed an alliance with Google Cloud to use the latter’s technology to enrich technological environments including applications, infrastructure, and databases. The migration of IT infrastructure and workloads to Google Cloud will help the bank increase cost efficiency, flexibility, scalability, and security. By utilizing AI and large sets of data stored on Google Cloud, the bank can support customers with hyper personalized banking services.
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Banorte ICT Spend by Function
- Data center
- End-user computing
- Service desk
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Banorte ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
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Banorte External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
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Banorte Tech Ecosystem Overview
|Total ICT Spending 2021||$507 million|
|ICT Spend by Function||Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management|
|ICT Spend by Channel||Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators|
|External ICT Spend by Segment||ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others|
|Technology Theme Focus||Artificial Intelligence, Big Data, Cybersecurity|
This report provides:
- Insight into Banorte’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering product launches and partnerships.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into Banorte’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various product launches and partnerships.
Table of Contents
Table of Contents
Digital Transformation Strategy
Partnership Network Map
ICT Budget and Contracts
Frequently Asked Questions
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