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E.g., 2022-11-27
E.g., 2022-11-27
November 3, 2022
The pace of digitalization in the banking and financial services industry is hastening due to the COVID-19 pandemic and modern technologies disrupting traditional business models. Moving to the cloud is now key to help drive forward digital transformation initiatives. Financial institutions (FIs) are realizing economies of scale by running software, data analytics, and digital business...
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October 12, 2022
On September 8th, Aite-Novarica Group hosted our fourth quarterly Financial Services CIO/CTO Advisory Research Council meeting. A select group of CIOs, CTOs, and heads of architecture at banks and financial institutions (FIs) gathered to discuss challenges and share successes and insights from their digital transformation initiatives. Below are some key insights from the discussion. Digital...
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October 4, 2022
In my blog on executing a digital strategy, I wrote, "the most important strategic objective for financial institution (FI) IT leaders today is leading initiatives that facilitate business transformation through digitalization of services and customer experiences." The emergence of new crypto-related products and services alongside traditional financial products and services has made it...
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September 1, 2022
The most important strategic objective for financial institution (FI) IT leaders today is leading initiatives that facilitate business transformation through digitalization of services and customer experiences. As I state in my latest report, CIO/CTO Checklist: Best Practices for a Digital Strategy, "CIOs need to facilitate and support business transformation efforts to ensure effective digital...
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August 9, 2022
Traditional banks are continuing to advance digital transformation initiatives to compete with fintech companies, neobanks, and digital banks. Open banking is integral to supporting the data-sharing ecosystem that enables delivering on digital banking’s promise to meet customers' expectations for a 24/7, on-demand, and seamless experience. Leveraging application programming interface (API)...
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July 28, 2022
Across industries, organizations were already facing a shortage of highly skilled IT talent—and fierce competition for a limited pool of available candidates. The Great Resignation has only intensified this significant IT talent gap, prompting banking and other financial services (FS) organizations to dramatically rethink their approach to hiring and retention. One of my recent blogs addressed...
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July 12, 2022
Digitalization continues to rapidly reshape banking and financial services (FS) business models. To help their organizations survive and thrive in this fast-moving digital era, CIOs and CTOs need to develop a strategy that enables business transformation by focusing on the customer.  As the financial industry continues to increase its spending on digital transformation and the...
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June 14, 2022
Customer expectations for a modern, seamless digital banking and financial services (FS) experience continue to heighten. CIOs and CTOs are leading the transformation of their organizations’ technology ecosystems in critical functions like analytics, cloud, and information security to deliver the IT capabilities required to meet customer expectations. In this era of digitalization, an...
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June 3, 2022
On May 24, Aite-Novarica Group hosted our third quarterly Financial Services CIO/CTO Advisory Research Council meeting. 18 CIOs, CTOs, and heads of architecture at banks and financial institutions attended the meeting, which centered on data strategy priorities and initiatives. Data strategy is a crucial component of banking and financial services IT leaders’ top priorities for 2022. Our Q2...
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May 24, 2022
The financial industry has achieved great progress in building analytics capabilities, such as predictive and artificial intelligence models, that support increased efficiency in key functions (e.g., information security and compliance). At the same time, most chief information officers (CIOs) and chief technology officers (CTOs) responding to Aite-Novarica Group’s data strategy study indicate...
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