| | December 20154The banking industry is undergoing a once in a generation shift--digitization, changing customer behavior and regulation that are driving the change. Banking leaders must act decisively in the face of substantial uncertainty, balancing the need to operate efficiently while keeping pace with rapidly changing business models, shifting regulatory requirements and conflicting market outlooks. Banks appear to be both cognizant of the challenges ahead and making many of the right investments to be able to offer the customer-centric banking services to compete successfully in the future.Bankers are convinced that investing in technology is critical to meet the challenges of a rapidly-changing environment. They realize technology is critical in improving efficiencies, enhancing the customer experience, and achieving regulatory compliance. It is expected that banks will spend close to $200 billion on technology in 2015.Banks are making business and technology investments to change their business models to comply with new regulatory requirements. They are enhancing the big data technology capability to successfully leverage their huge database of customer data and are increasingly investing into analytics to understand customers' needs, improve risk management and compliance, and boost efficiency. Banks are rolling out new channels such as social media and are likely to increase technology investments into digital channels (e.g., Internet, mobile, tablet, and social media) and push toward digital convergence. They are also looking to provide better services and products in an increasingly competitive environment and reduce their total cost of ownership by rationalization of the legacy landscape, with a result in core banking transformation gaining pace.Thank you,Sarah WilsonEditor-in-ChiefWrite to ussarah@cioapplications.comRevitalizing ManufacturingCopyright © 2015 CIO Applications. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.DECEMBER - 2015Mailing AddressCIO Applications44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.936.8381, F:510.894.8405 Dec 2015, volume 2- 12 Published monthly by CIO Applications To subscribe to CIO ApplicationsVisit www.cioapplications.com Editor-in-Chief Sarah WilsonEditorial StaffSalesAbishek ChandranCharles MatthewGeorge ThomasHarvi SacharJeevan GeorgeJoshua ParkerRuby JonasSarah FernandesMichael Vincentmichael@cioapplications.comVisualizersStephen ThomasManjith FernandezT:510.556.2283Editorial
< Page 3 | Page 5 >