survey of 127 retail banks suggests that ICT budgets are set to grow more than in 2014-15 in both absolute and percentage terms, as they tackle more “change the bank” rather than “run the bank” initiatives.


ICT investment trends in retail banks presents the findings from a survey of 127 retail banks regarding their Information & Communications Technology (ICT) investment trends. The survey investigates how retail banks currently allocate their ICT budgets across the core areas of enterprise ICT expenditure: hardware, software, IT services, communications, and consulting.

The report illustrates the core technologies banks are investing in, including mobility management, business intelligence, and IoT. Understand the approach adopted by retail banks to purchase technology and get a better insight into ICT vendors and services providers when pitching their solutions to retail banks.

In particular, it provides an in-depth analysis of the following:

– How ICT budgets are set to change in 2016 in terms of their overall size

– Allocation across the core elements of IT spend, including hardware, software, services, communications, and consulting

– Distribution of ICT money in areas such as the networks, applications, service desk, and data centers

– Which ICT functions retail banks are interested in outsourcing

– Retail banks’ investment priorities based on their budget allocations across core technology categories such as mobility management, business intelligence, and IoT

– Factors that are influencing retail banks’ investments in each technology category

– How retail banks’ IT budgets are currently allocated across various segments within a technology category

– Retail banks’ distribution of their ICT budget across various segments within a technology category

– Vendor satisfaction ratings for various core and advanced technology categories

– Insight into retail banks’ preferred buying approaches

– Business objectives that retail banks are looking to achieve through their IT investment strategies

– Factors that are influencing retail banks’ decisions to select an ICT provider

Reasons to Buy

– Understand how the retail banks' ICT landscape is set to change in 2016 to prioritize your target market

– Comprehend how ICT money are being allocated by retail banks in specific geographies and size bands to improve your market penetration

– Make effective business decisions by recognizing the opportunities within each of the core areas of ICT spend (hardware, software, IT services, telecommunications, and consulting)

– Realign your sales initiatives by understanding the current strategic objectives of retail banks

– Enhance your market segmentation with the included, detailed breakdown of opportunities within selected technology categories (mobility management, business intelligence, and IoT)

– Prioritize your focus areas by understanding which factors are influencing retail banks’ decisions when selecting an ICT provider

– Understand the changes in customers’ priorities and identify the business objectives that retail banks are looking to achieve through their ICT investment strategies

Table of Contents

1 Trends in ICT budgets

1.1 Introduction

1.2 Survey demographics

1.3 ICT budget changes

1.4 ICT budget allocation by core technology area

1.4.1 Hardware budget breakdown

1.4.2 Software budget breakdowns

1.4.3 Third party IT services expenditure

1.4.4 Communications expenditure

1.4.5 Cloud computing budget

1.5 ICT budget allocation by function

1.6 Outsourced IT functions

2 ICT investment priorities and vendor satisfaction

2.1 Introduction

2.1.1 Mobility management

2.1.2 Business intelligence

2.1.3 IoT

3 ICT procurement trends

3.1 Introduction

3.2 Business objectives influencing IT investment strategy

3.3 ICT provider selection

3.4 Key decision maker for purchasing technology

4 Sector-specific trends

4.1 Introduction

4.2 Business areas receiving the largest investments

4.3 IT expenditure plans for specific business areas

4.4 Business challenges

5 Summary

5.1 Retail banks are pivoting toward more aggressive “change the bank” spending

6 Appendix

6.1 Definitions

6.2 Further reading

6.3 Contact the authors

List of Tables


List of Figures

Figure 1: Retail banking enterprise ICT survey industry breakdown

Figure 2: Retail banking enterprise ICT survey breakdown by size band (number of employees)

Figure 3: Recent and expected ICT budget changes among retail banks

Figure 4: Retail banks’ (external) ICT budget allocation, 2014 and 2015

Figure 5: Retail banks’ average hardware budget allocation

Figure 6: Average allocation of software budgets in retail banks

Figure 7: Retail banks’ average IT services budget allocation

Figure 7: Retail banks’ average communications expenditure

Figure 8: Retail banks’ average cloud computing budget allocation by technology

Figure 9: Retail banks’ average cloud computing budget allocation by implementation type

Figure 10: Retail banks’ ICT budget allocation by function, 2015 and 2016

Figure 11: Outsourced IT functions – Retail banks’ current and future outsourcing priorities

Figure 12: Mobility management – Retail banks’ current and future investment priorities

Figure 14: Business intelligence – Retail banks’ current and future investment priorities

Figure 16: IoT – Retail banks’ current and future investment priorities

Figure 18: Business objectives which influence retail banks' IT investment strategy

Figure 19: Factors influencing retail banks' decision to choose an ICT provider

Figure 23: Role of key entities in making ICT purchasing decisions

Figure 25: Top three IT projects in 2016 for retail banks

Figure 24: IT expenditure plans in 2016 compared to 2015, for specific business areas within retail banks.

Figure 26: Importance of the following business challenges for retail banks


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