Anticipating Omnichannel Banking: Channels and Core Systems Interoperability

Anticipating Omnichannel Banking: Channels and Core Systems Interoperability

                         New research from Mercator Advisory Group examines the trend away from traditional core banking systems to an omnichannel banking environment  

Boston, MA - September 3, 2013 - Boston, MA - In new research, Anticipating Omnichannel Banking: Channels and Core Systems Interoperability, Mercator Advisory Group reviews how the core missions of branches are fundamentally changing, as well as the roles of each of the constituent channels.

"The road map for future channel growth and efficiencies lies in an emerging omnichannel banking paradigm under development at various financial institutions. Many FIs, with large banks leading the charge, are seeking ways to provide 360-degree views of their customer needs and behaviors, the ultimate goal being superior customer engagement," comments Ed O'Brien, director of Mercator Advisory Group's Banking Channels Advisory Service and author of the report.

Highlights of this report include:

- Discussion of the fundamental change occurring in the primary mission of banks and other financial institutions from a transaction-oriented relationship with customers to a more engaged one involving much interaction

- Description of significant alterations that will be required in the way FIs organize and manage their operations to achieve this change, including revamping processes, systems, and organizational structures

- The need for continuous, real-time updates of underlying account information and customer behaviors to this new customer relationship

- New strategies and improved processes needed to understand and engage with customers and support the transition to omnichannel banking

One of the 13 exhibits in the report:

 

 

Hierarchy of Banking Value Creation

 

 

 

This report is 23 pages long and has 13 exhibits.

 Organizations mentioned in this report include: CSC, FIS, Fiserv, Harland Financial Solutions, IBM, Infosys, Jack Henry & Associates, MicroStrategy, Misys, Open Solutions, Oracle, SAP, Tata, and Temenos.  

Members of Mercator Advisory Group's Banking Channel Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.

Please visit us online at www.mercatoradvisorygroup.com.

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About Mercator Advisory Group

Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.