Customer-Facing Solutions Are Driving Banking Platform Deals

Changing dynamics in the banking platform market have created new obstacles and opportunities for banks that need a new platform to better serve their customers. Forrester surveyed 29 vendors of globally deployed banking platforms about their 2013 deals. The results point to a growing need for vendors to enhance existing client relationships, which banks should capitalize on during any selection process. At the same time, continued mergers and acquisitions as well as enhancements and modernizations of vendors' banking platform portfolios are contributing to market change. Most importantly, the year 2013 saw banks making decisions focusing more on customer-facing functionality such as customer data management and channel solutions and less on transactional capabilities such as core banking.