In his 23 years at Pittsburgh-based PNC Financial Services Group ($93 billion in assets), SVP Thomas Kunz relates, the pace of change has never been as rapid as it is today -- not even when he was in charge of the bank's e-business initiatives during the Internet boom.
As consumers' lifestyles grow ever-more mobile, they increasingly are demanding financial services on the go. To meet customer expectations -- as well as improve productivity and client wallet share -- banks are beginning to roll out mobile and wireless banking applications.
IT Asset Management For banks, effective IT asset management is necessary for both regulatory and contractual compliance. But it also can improve lifecycle management, identify underutilized hardware and software, and reduce inventories, resulting in significant cost savings.
In Minnesota, where I went to college, they say there are two seasons: winter and road repair. The climate feels similar in the financial services industry, where consolidation is occurring at a pace that makes one conclude there are two seasons in banking: mergers and integration, which could be considered the industry equivalent of road repair.
Spending is expected to increase across all industries, but the four biggest spenders—including travel and financial services--are expected to open their wallets wider to take advantage of consumer trends.