Bankers As Buyers 2008 is now available (free)


For the full report, go to -- http://www.williammills.com/images/pdfs/bankers%20as%20buyers%202008%20final.pdf




Bankers As Buyers 2008

The focus of Bankers As Buyers is to help financial institutions (banks, credit unions and lenders) and those companies serving them, validate their strategic IT direction/ concerns and compare investments in technology by type and/or direct further research.

Mobile Banking on the Move
This past year saw real progress by large banks in offering mobile banking. This year’s report discusses what we can expect to see in 2008 and a few suggestions on how banks should approach roll out strategies. You might want to check out the article by Richard Crone, Crone Consulting, LLC and Debbie Wood, Jack Henry & Associates.

Credit Markets Reshape Industry
2007 was rocked by the slow down in the housing and mortgage markets. I expect lenders to look at improving fraud detection; property value analytics and any technology or process that will turn fixed costs into variable costs. We could also see additional spending in the coming years to address new compliance/disclosure rules that have yet to be defined.

U.S. Banks Now Thinking Green
We may be behind Europe in going “Green,” but we started to see announcements from banks about green programs. Were you aware that there is an Environmental Bankers Association (www.envirobank.org)? Some technologies, such as, Remote Deposit Capture, can be positioned as solutions which support financial institutions good works initiatives. Green programs are discussed in the “Other Spending” section of the report.

Security Continues to be Major Issue
Some themes continue to resonate, particularly, systems and data security. With more services shared over the Internet and email with customers; and customer data handled by bank vendors, we will continue to find weaknesses in systems and look to technology to help us solve those problems. Security, fraud and data integrity are discussed in several sections of the report and in our featured articles section.

Banks Use Technology to Aid Customer Growth
Are banks getting better with the “customer experience” than last year? While banks often look at customers in silos, our take is that most vendors are working on solutions to help banks better know their customers; analyze the opportunities/risks; present offers through multiples channel and close business faster. Bank employees will rely more on technology moving forward to grow business. For more on this topic, please see the “Mobile Banking” and “Customer Service” sections and the article by Terence Roche, Cornerstone Advisors.

Bankers As Buyers is created with the help of knowledgeable consultants and professionals in our industry. This year’s survey has been greatly enhanced by information provided by or originally published by:

ABI Research
Aite Group, LLC
Celent Communications
Cornerstone Advisors
Crone Consulting, LLC
Dove Consulting
Financial Deposit Insurance Corporation
Financial Insights
Independent Community Bankers of America
Javelin Strategy & Research
Securas Group, LLC
TowerGroup, Inc.

It is our pleasure to provide you with this 2008 edition of Bankers As Buyers. While the material is copyright protected, you have our blessing to share this document with your business associates, clients, prospects and friends within the industry.

Sincerely,

Scott Mills, APR
President
William Mills Agency

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