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E.g., 2022-08-12
E.g., 2022-08-12
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 21, 2022
The Great Resignation—a phenomenon in which an unprecedented number of employees worldwide quit their jobs over the past few years—has ushered in novel ways of thinking about workplace culture. Employees are prioritizing a better work-life balance, remote and hybrid options, and higher pay. Many companies have sought to adapt to these shifting expectations, but a talent gap—or labor shortage—...
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July 14, 2022
Geopolitical factors have always affected financial institutions due to their influence on regulations, but recent months and years have had an unprecedented impact on the industry. Technology executives in financial services institutions must stay on top of current and future events to ensure their digital initiatives will be able to weather new developments in the talent market and...
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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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May 16, 2022
Data and analytics are at the heart of the digital revolution in the banking and financial services industry. Yet, most legacy financial institutions (FIs) struggle to unlock the full value of data assets when making informed decisions that enable strategic business outcomes like managing down overhead costs and generating higher revenues through personalized product offerings. Having the...
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April 25, 2022
Innovative technologies, increasing competition from nontraditional and fintech players, and heightened customer demands for a seamless digital experience are challenging IT executives in banking organizations to reengineer or modernize their core systems. As a result of these dramatic changes in the industry, banking CIOs and CTOs are leading initiatives to replace core systems and provide...
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