Abstract
Introduction
This brief looks at the key market developments in European retail banking
during Q1 2009 and provides a summary of selected retail banking results, an
overview of recent M&A activity, highlights of other notable industry
developments and insights into the findings of Datamonitor' s latest Retail
Banking Technology Spending Strategies survey.
Scope of this research
- Datamonitor' s Business Update provides analysis from ongoing research into
the market dynamics of the European retail banking industry.
- This report examines industry developments during Q1 2009.
Research and analysis highlights
As anticipated, the full-year financial results for the majority of Europe' s
banks were nothing short of disastrous, although nobody should be surprised by
this. Having seemingly weathered the storm caused by the financial crisis,
Europe' s banks have moved from ' protect & survive' to a position of ' stabilize
and rebuild' .
The outlook for IT spending remains unchanged: carefully targeted investments
will continue to be made.
Cost reduction and increased efficiencies are the most important business
objectives for IT investment strategy in 2009. Investing in online channels is
a high priority, as the technology has the ability to reduce the total cost to
serve. IT investment in the branch network is also increasing.
Key reasons to purchase this research
- Gain a comprehensive picture of the European retail banking market, and
understand technology investment priorities for 2009.
- Understand the additional rescue activities performed by central banks and
governments across Europe to achieve stability in the banking industry.
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