About the 15th Edition of Innovation in Retail Banking Research
For a banking leader, staying competitive means driving innovation—adopting new business models, enhancing digital engagement, achieving operational agility, fostering innovation, and leveraging advanced technologies like cloud, AI, and enhanced security. But where does the banking industry stand in its progress across these dimensions? How are the goalposts for banking in 2030 evolving? What are the best practices from leading, progressive banks?
To help banks navigate this complex and dynamic landscape, we’re thrilled to introduce the 15th edition of the Innovation in Retail Banking Report. Developed in collaboration with Qorus and Jim Marous, this flagship report captures insights from over 130 global banking executives to explore how financial institutions are adapting to a challenging yet opportunity-rich environment.
Key Themes: Shaping Banking’s Next
This year’s report, themed "Shaping Banking’s Next", spotlights the industry’s progress across three critical focus areas driving innovation and growth:
- Rethinking Business Models to meet evolving customer expectations
- Scaling Innovation Capabilities across people, process and technology
- Redefining Value Creation across new offerings, delivery channels and ecosystems
Snapshot of Findings
- Transformation Challenges: Only 11% of banks report successfully scaling their transformation initiatives, underscoring the complexity of sustaining digital progress.
- By 2030:
- 80% foresee embedded banking driving over half of transactions.
- 80% anticipate that 75% of enterprise banking applications will reside in the public cloud while 85% expect AI to be ubiquitous.
- 90% predict cybersecurity threats and budgets will more than double.
- Competitive Pressures: Non-incumbents are expected to claim over 30% of the retail banking market share by 2030, marking a fiercely competitive environment.
Why This Report is a Must-Read?
- Insights from 130+ global banking executives on their strategies and priorities.
- 40 case examples showcasing real-world banking innovation.
- Contributions from 10 industry leaders through in-depth qualitative interviews.
- A legacy of 15 years of research, making this report a trusted benchmark for banks worldwide.
Innovation starts with insight! Get your copy of the Innovation in Retail Banking Report 2024 and lead the change.
