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2013 Forecast: The Hot Technologies That Will Define Banking

Cloud, digital payments and mobility will loom even larger in 2013, our panel of industry experts say.

Mobility, BYOD and Enterprise Efficiency

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Richard Ferrara, CTO,Woodforest National Bank

What's hot, as far as banking technology for 2013? As always, mobile will continue to be hot, especially with more and more devices making their presence known. Microsoft releasing Windows Phone 8, along with the Surface tablet and the ecosystem of Windows 8 should make things interesting. We plan to continue to enhance the mobile experience for our customers.

And mobility is not only for the customer. It's time to bring in mobility for workers so they can complete tasks from anywhere at any time. This, of course, ties into BYOD and all the security trapping along with it.

Employing technology to improve the enterprise doesn't stop at mobility and BYOD. Social tools and Big Data will help enterprises become more efficient. I like the idea of the social enterprise. Using email to share ideas seems very inefficient. Tools, such as SharePoint 2013, which includes some social components, or software that could plug into SharePoint, could be used to broaden the conversation and participation throughout the enterprise and reduce the dependence and clogging of email systems.

Finally, Big Data will probably continue to be a big buzzword in 2013. Big Data seems to tie into a broader business intelligence strategy along with social aspects associated with it. We aren't doing anything with Big Data just yet, but we might later in 2013.

The Year of Rationalizing the Cloud

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Paul Schauss, President & CEO, CCG Catalyst Consulting Group

The most significant technology for banking in 2013 will be the Cloud, and we anticipate that it will be the year of rationalizing the cloud -- when banks determine what the cloud means to them. While there is risk management and vendor due diligence involved, moving selected services to the cloud can eliminate upfront licensing costs, decrease under-used hardware, and deploy your internal IT staff to more-strategic and less-administrative projects. Banking IT executives will identify those applications or services that monopolize IT resources, services that can be used essentially out of the box, and services that are relatively mature in development, like office automation or email. The best cloud strategy will balance the bank’s appetite for risk by customizing a cloud deployment that utilizes some combination of public, private, and hybrid cloud environments. While core banking might not soon move to a fully public cloud, those ancillary and support services like HR management, CRM, content, and others will see higher cloud adoption rates. As the industry comfort level with cloud computing grows, so will the number and criticality of the systems that move to the cloud.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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Lauren Hand
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Lauren Hand,
User Rank: Apprentice
3/12/2013 | 9:34:08 PM
re: 2013 Forecast: The Hot Technologies That Will Define Banking
I am trying to find out what a good Marketing Analytics software is for our bank. We currently use a database that stores all our customer accounts and information but I do not have any program to use to identify our best customer, create leads or cross-sell to our current customers. I am not sure if an analytics software, marketing dashboard or CRM is the best for us to accomplish our needs. Any advice?
Melanie Rodier
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Melanie Rodier,
User Rank: Apprentice
12/19/2012 | 2:45:05 AM
re: 2013 Forecast: The Hot Technologies That Will Define Banking
Very interesting. I agree that banks can't dictate how they interact with customers anymore, now it's the other way round. That's true of so many industries today. Companies have to jump on the social media bandwagon or risk losing out big time, whether it's existing customers, new ones, or much more.
Byurcan
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Byurcan,
User Rank: Author
12/18/2012 | 7:39:11 PM
re: 2013 Forecast: The Hot Technologies That Will Define Banking
-ŠIndeed, it should be an interesting space to follow
Byurcan
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Byurcan,
User Rank: Author
12/18/2012 | 7:38:42 PM
re: 2013 Forecast: The Hot Technologies That Will Define Banking
.
Nathan Golia
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Nathan Golia,
User Rank: Author
12/17/2012 | 3:25:25 PM
re: 2013 Forecast: The Hot Technologies That Will Define Banking
Nice job Bryan. I'm really looking forward to following digital payments next year G«Ų not sure exactly what the play might be for insurance companies but it seems like there might be some crossover there eventually.

Nathan Golia
Insurance & Technology
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