CIO Survey 2011: Eight IT Habits of High-Performing Banks
Report Summary
CIO Survey 2011: Eight IT Habits of High-Performing Banks
Among other habits common to high-performing banks, members of this segment invested in IT during the economic downturn.
Boston, November 8, 2011 – A new report from Aite Group identifies eight IT habits of high-performing banks. Based on a Q1 2011 Aite Group survey of senior IT executives at 80 large financial institutions across North America, the Asia-Pacific, and Europe and the Middle East, the report also analyzes the IT spending and sourcing patterns of financial institutions.
Among the 80 financial institutions surveyed, Aite Group categorized 24 as “High Performers” based on their 2009 to 2011 operating performance and superior return on operating capital, equity, and assets. Among other habits common to high-performing banks, members of this segment continued to invest in IT during the economic downturn. In 2009, nearly half of all surveyed banks increased their IT budget over 2008 levels. In 2010, however, nearly two-thirds of high-performing banks increased their IT spending while just 36% of other banks followed suit. High Performers are also more likely to have deployed mobile banking services and to outsource IT solutions.
“Across the technologies included in our survey, high-performing banks tended to outsource IT functions and processes to vendors, but not because they have a preference for doing so,” says Ron Shevlin, senior analyst with Aite Group and co-author of this report. “They analyze technology needs and capabilities on a case-by-case basis and determine for each area whether outsourcing is the right approach. To operate in a heavily outsourced environment, high-performing banks must have effective processes for selecting, managing, and evaluating IT vendors.”
This 28-page Impact Report contains 22 figures and seven tables. Clients of Aite Group’s Retail Banking or Wholesale Banking services can download the report.