Top U.S. Lenders Tackle Risk and IT Challenges: Not Their First Rodeo
Report Summary
Top U.S. Lenders Tackle Risk and IT Challenges: Not Their First Rodeo
The rough ride continues as U.S. lenders tackle budgetary challenges and ever-changing regulations.
Boston, December 11, 2013 – In early 2011, credit executives at top U.S. lenders named regulatory uncertainty, portfolio growth, and managing troubled portfolios as their top challenges. Today, bank executives already going without budget dollars know better than to harbor enthusiasm for new initiatives. They are calmly accepting the virtually unchanged nature of stagnating financial markets, continued lack of IT budget, and a pragmatic approach to IT decision-making. Until new requirements are settled and overall financial performance improves, the focus will remain on self-serve channels and mobility. But what, specifically, must lenders and technology vendors address?
This Impact Note provides insight into financial institutions' strategic plans―how they have been progressing, and forward directions in 2014 and 2015. It contains analysis from ongoing, in-depth Aite Group discussions with and interviews of senior management at U.S. financial institutions that boast significant consumer and small-business credit portfolios. The report is also based on the responses of 20 executives to a 2013 Aite Group survey of top 50 U.S. consumer and commercial lending institutions.
This 29-page Impact Note contains 14 figures and one table. Clients of Aite Group's Retail Banking or Wholesale Banking services can download this report.