Trends Report

Hot Banking Tech Companies To Watch In 2010: Q2 Update

July 16th, 2010
With contributors:
Chétina Muteba , Ellen Daley

Summary

Focusing on solving the core industry-specific business problems is the next big wave in the tech industry. Nowhere is it more evident of technology's unique role in solving business problems than in the highly tech-dependent banking market. The outlook for the banking industry continues to improve. During the first quarter of 2010, net income for US banks hit a two-year high, and internally generated capital turned positive for the first time in eight quarters. But, the list of problem banks in the US continues to grow, with no end in sight for the regular Friday afternoon closures. Globally, banks are rebalancing their business strategies for growth and still grappling with fallout from the meltdown, both of which are driving changes in their legacy business models. This report describes 11 tech vendors that are addressing challenges in key banking industry processes like payments, securitization, fraud, and derisking and simplifying the business of managing money. Strategists looking to expand or enter into the banking market can learn from the innovations of these vendors.

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