Trends Report

Financial Services Firms Again Seek To Renew Their Application Landscape

Findings From Our Q3 2010 Global Financial Services Architecture Online Survey

November 8th, 2010
Jost Hoppermann, Vice President, Principal Analyst
Jost Hoppermann Vice President, Principal Analyst
With contributors:
Kyle McNabb , Mike Gilpin , Sander Rose

Summary

During the summer of 2010, Forrester surveyed 80 IT decision-makers in financial services (FS) firms in Europe, North America, and, for example, Australia, Japan, and South Africa. Our findings show that an overwhelming majority of firms have both budgets and plans to renew their application landscape and core banking platforms. While each region shares a similar interest in core banking, differences in how to serve various channels exist between North America and Europe. Huge budgets, many exceeding €100 million, present no obstacle for a bank's or an insurance firm's renewal plans. With the renewal train re-accelerating, financial services firms need to get their tickets soon to defend their competitive situation.

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