Banks’ Investment Plans In Banking Applications Remain Strong

The pandemic has accelerated the digital transformation and readiness of financial services organizations. In the early days of COVID-19, banks’ investments focused on digital banking engagement platforms, with an aim to replace offline channels and drive digital self-service. In 2022, banks are again prioritizing longer-term and more complex investments such as core banking applications. Investment in core banking applications and lending systems is vital if banks want to deliver products and services more quickly and flexibly and offer seamless, real-time, end-to-end digital experiences. This is a snapshot of Forrester’s data on banks’ ongoing investment choices.