↓ Agenda Key
Visionary speaker presents to entire audience on key issues, challenges and business opportunities
Panel moderated by Master of Ceremonies and headed by four executives discussing critical business topics
Solution provider-led session giving high-level overview of opportunities
End user-led session in boardroom style, focusing on best practices
Interactive session led by a moderator, focused on industry issue
Pre-determined, one-on-one interaction revolving around solutions of interest
Discussion of business drivers within a particular industry area
Analyst Q&A Session
Moderator-led coverage of the latest industry research
Several brief, pointed overviews of the newest solutions and services
Overview of recent project successes and failures
Open Forum Luncheon
Informal discussions on pre-determined topics
Unique activities at once relaxing, enjoyable and productive
Mobile technologies have swept the world, with the latest news that there are officially more such devices on the planet than there are people and across the board these devices have become the go-to way in which people interact with peers and providers. While banks have begun adopting mobile channels to engage and interact with their clients, they clearly need to go much, much further, embracing mobile payments (in store and for bills), P2P payments, and mobile only enrollments among other innovations. Wholesale adoption of mobile as the primary (and in some ways only) engagement and interaction channel means backend systems will need to be re-architected and CIOs need to begin thinking about the nature and scope of these changes, as well as initiating the dialogue about this revolution with their business partners now.
It is estimated that the conversion to digital banking has the potential for a significant impact, that the migration of front-end activity combined with the automation of servicing and fulfillment processes could result in as much as a 90% cost reduction. Banks however have been painfully slow to respond and no-one has yet to establish a strong digital capability that will lead to runaway market success for a variety of reasons, perhaps the biggest of which is simply lack of understanding of the potential, and the demand. The conversion to digital banking is inevitable however, and so those IT leaders that prepare there organization’s for a future shift now will be setting not only their company, but themselves up for success.
It's well documented that Millennials are significantly different than any previous generation. Their purchase behavior, borrowing and savings behavior, ethnic diversity and use of digital technology are causing banks to rethink how they deliver services and engage what is now the largest generational population in the country. Understanding the dynamics of this generation and it’s impact on the bank of the future including marketing, branch strategies, online banking and portfolio management is essential for long term success.
Over half a decade has passed since peak of the financial crisis and over four years since the passage of Dodd-Frank, the first piece of regulation that was part in place as a response. In the intervening time the only constant has been ongoing waves of regulation that show no signs of stopping any time soon. Financial institutions need to take care that they are not adopting a short-term, piecemeal, decentralized approach to these demands to ensure that they are best able to leverage economies of scale and the insights that come from an integrated approach. Consistent and mature regulatory response programs will allow banks to take a more structured, cohesive, and ultimately more effective approach to each individual regulatory requirement and the CIO will be instrumental in ensuring that those programs operate as effectively as possible.
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Maintaining a consistent client experience is key to ensuring a consistent client relationship, which in turn leads to greater client retention and spend. Maintaining that consistent experience is complicated by the fact that clients now interact with all providers, not just financial services ones, through a variety of channels that can number into the dozens. It is essential to not have just consistency of look and feel across all channels, but consistency of experience, and indeed to allow individual experiences to occur sequentially across all channels.
Banks have historically owned and operated all of the various functions related to the delivery of their services and have used these proprietary operations as business differentiators. Increased regulatory oversight has, however, forced standardization on many of these processes. While there have been benefits to the banks as a result (cost control being one of them), this standardization has created a world of service commoditization, not unlike what has been seen with cloud computing and related “as a Service” type offerings. The creation of Banking as a Service-type offerings will open potential revenue streams but require that significant technology hurdles be overcome and those CIOs that get ahead of the curve will set there organizations up for success at the direct expense of their less innovative and capable peers.
Historically, the relationship between and bank and its clients has been pretty one-sided with the bank, whether filling the role as lender or investor, holding many if not all of the cards and dictating the pace and nature of the relationship. The times though they are a-changing and, spurred by greater opportunity for control in others aspects of their commercial lives, consumers are increasingly demanding visibility into processes, which is often translating into greater visibility into data – data about themselves, and data about the potential offerings available to them. This shifting boundary between provider and provided will require rapid re-architecting of supporting IT systems and CIOs will need to address a multitude of related challenges as a result.
The economic downturn has had significant and long-lasting effects on the banking industry, not the least of which is the reduction in interest based revenue as a result of tightened lending regulations and increased lending reticence. As these revenues stagnate, financial services organizations are having to find new sources of revenue to not just try and drive growth, but to halt shrinkage, and fees alone aren’t going to bridge that gap. What are needed are new and appealing products and services that will draw clients back into a relationship and drive increased non-interest based revenue. This will be a tumultuous time for the IT department as the lines of business experiment to find the sweet spot and will need dynamic and flexible support from their technology arm.
The banking industry is one that rarely would be described as “innovative”, with all players seemingly taking a “what’s good for one is good for all” approach where no-one particularly upsets the status quo in anything but small and incremental ways. If the latest evidence from the European market is anything to go by, however, the potential exists that a major shakeup could be in the offing as a host of so-called “Challenger” banks are bursting onto the scene. Whether from upstart financial services organizations, of companies entrenched in non-related fields such as retail, new entrants are coming to market that having nothing invested in old school processes, not in the semi-competitive landscape that currently exists. Change is coming and Financial Services CIOs need to look to their own house to ensure the people, processes, and technologies are in place to respond to this new threat.
The importance technology plays within an enterprise will only continue to gain momentum as more developers, engineers, and programmers continue to enter the workforce market. As these segments continue to grow, so does the female workforce within the technology field. The hashtag movement #ilooklikeanengineer seeks to create continued awareness behind women in the tech field. Women will continually set new stereotypes and re-define the bar within the tech field, not only for the hashtag #ilooklikeanengineer, but perhaps #ilooklikeawomanintech continuing to aid in overall technological growth and enterprise value.
• Identify the importance behind women in technology, opportunities, and capabilities
• Develop insight on the market direction behind the women in both technology. and security, and how the landscape continues to evolve with the aid of alternate perspectives.
• Discuss the expanding technology market, the increased focus on technology, security, and IoT integration.