The challenge for the new bank CIO: How to achieve customer-centricity by making better use of six emerging technologies
The financial crisis and changing marketplace have created massive disruption in the financial services industry, particularly for banks. To address these challenges, consumer banks must become more customer-centric. This in turn requires new foundational capabilities: capabilities that will help banks distinguish themselves as part of a customer-oriented industry. Information technology (IT) functions will be the gateway to six new enabling technologies. Each offers opportunities for giving customers convenience, control, recognition, and transparency. The technologies are mobility (the use of mobile devices), high-end analytics, big data management, next-generation data processing, cloud computing, and service-oriented architecture. To make use of these key enablers, organizations will need to refine their operating models, governance, data and application management, and technology architecture. An IT road map can provide the first step.