target audience: TECH SUPPLIER Publication date: Feb 2024 - Document type: IDC Survey - Doc Document number: # US51441324
Navigating 2024: Unveiling Corporate Banking's Business Priorities and Trends Arising From an IDC Survey
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Abstract
This IDC Survey presentation illustrates the evolution of the business priorities for corporate banks for 2024 based on primary research conducted by IDC Financial Insights across regions in Q4 2023.
At times of uncertainty, corporate banks need to prioritize initiatives to ensure budgetary restrictions are not endangering their ability to deliver value to the market and to lay the ground for future evolution. Corporate banks are prioritizing compulsory initiatives such as getting ready to comply with evolving regulatory requirements and carrying out risk management activities, and they are also addressing compelling events such as modernizing IT legacy infrastructure and engaging their customers by providing real-time services and actionable data insights.
In the presentation, we identify the top priorities of corporate banks, and their initiatives prioritization for each category.
"While going through legacy IT modernization to future proof their organizations, banks must continue to address customer expectations and product innovation while also leveraging ecosystem collaboration to deliver value to the market, automating internal processes to gain efficiency, leveraging data to improve the services and the customer experience, and securely collaborating with third parties, which are milestones toward their future," said Maria Adele Di Comite, research director, IDC Financial Insights.