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Digital channels to form major part of retail bank investments in 2015

21/01/2015 by Sharon Shahzad


Retail banks will be focusing IT investments on driving revenue growth in 2015, with digital channels being a major area of focus.

This is according to new research from Ovum, which has found that almost half of senior IT executives identify supporting revenue growth as one of the top three strategic priorities for the upcoming year.

“The need to grow topline revenue through sales and customer conversion rates is driving investment into digital channels,” said Kieran Hines, practice lead of Financial Services Technology at Ovum. “Due to this, the areas that will see the greatest spending in 2015 are mobile and online banking, with 52% and 51% of banks respectively seeing their budgets grow. Product development will see the largest magnitude of budget increase, with over 17% of banks expecting investment to increase by more than 6%.”

Banks in North America and North Asia have a strong consumer focus according to the survey, whereas this is seen as less of a priority in Western Europe. 21% of banks indicated that greater customisation in digital channels is a top investment priority.

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Montash is a multi-award winning global technology recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Energy Technology, Demand IT and Business Engagement, Digital and E-commerce, Leadership Talent, Infrastructure and Service Delivery, Project and Programme Delivery.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid management in permanent and contract roles.

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