Trends Report

Discovering Tech Opportunity In Islamic Finance

Big Segment Captures Banker And Tech Vendor Attention

April 6th, 2009
Jost Hoppermann, null
Jost Hoppermann
With contributors:
Eric G. Brown , Christina Lee


The move to Islamic banking will challenge conventional bank IT, which means strong opportunities for tech vendors with expertise and experience in rolling out Islamic finance systems. In the face of a deep and long-lasting recession, conventional banks are making dramatic changes across their business, including entering new markets and targeting new or overlooked customer segments. One market that's capturing the attention of interest-based financial institutions is Islamic banking. Global banks such as HSBC, JPMorgan Chase, Royal Bank of Scotland, and UBS are already offering Islamic banking solutions in the Middle East and Asia, and increasingly in their home markets. With nearly 117 million Muslims living in just Europe and the US, even capturing a very small percentage of that market can have a profound revenue impact and provide opportunities for technology product and services vendors.

Want to read the full report?

Contact us to become a client

This report is available for individual purchase ($1495).

Forrester helps business and technology leaders use customer obsession to accelerate growth. That means empowering you to put the customer at the center of everything you do: your leadership strategy, and operations. Becoming a customer-obsessed organization requires change — it requires being bold. We give business and technology leaders the confidence to put bold into action, shaping and guiding how to navigate today's unprecedented change in order to succeed.