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IDC Financial Insights Releases Top 10 Predictions for 2013

IDC Financial Insights today hosted a Webinar, IDC Financial Insights Predictions 2013: Financial Services, highlighting the top 10 predictions for the year ahead. Featuring analysts David Potterton, Jeanne Capachin, Marc DeCastro, Karen Massey, Aaron McPherson, and Michael Versace, the session provided organizations with insight and perspective on long-term industry trends along with new themes that may be on the horizon. The Predictions Webinar series is designed to help company leaders capitalize on emerging market opportunities and plan for future growth. An audio replay of today's webinar will be available within 48 hours. To access the replay, please visit http://bit.ly/FI_Predictions2013_Financial.

The Top 10 Predictions for 2013 are:

  • Prediction 1 - The Nascent Community-Based Clouds in the Financial Services Industry Will Become the Preferred Cloud Model in Cost-Conscious Markets by Striking the Balance Between Lower Operating Costs and Adequate Service Levels
  • Prediction 2 - Banks Will Abandon Social Media as a Customer Service Channel and Focus on Targeted Marketing Campaigns Instead
  • Prediction 3 - Competition Between Rival Mobile Wallets and Point-of-Sale Integration Technologies Will Result in a Price War as Competitors Seek to Gain Market Share and Mindshare
  • Prediction 4 - As Spending on Big Data and Analytic Solutions Tops $6 Billion Worldwide, Operational Efficiency Ratios Will Begin to Show Signs of Improvement
  • Prediction 5 - Risk Officers and CIOs Will See Capital Spending and Operational Expense Associated with Risk and Compliance on the Continued Material Increase, Topping $74 Billion Worldwide
  • Prediction 6 - Regulation Will Reduce Financial Services Profitability by a Third by 2015 Unless Institutions Implement Enterprise Data Management Strategies
  • Prediction 7 - Global Universal Banks Will Continue to Struggle to Deliver the Value of Their Complete Franchises
  • Prediction 8 - New Formats Will Breathe New Life to Branch Strategies, While Investments in New Channels Will Intensify
  • Prediction 9 - Rising M&A Activity in the Financial Services Industry Will Drive the Demand for More Effective Systems Integration and Interoperability
  • Prediction 10 - Financial Institutions Will Get Serious About Updating Legacy Systems

"Our predictions in 2013 are more optimistic than in years past, however there is real concern that the technologies offered on the 3rd platform may leave many institutions behind," said David Potterton, vice president of global research, IDC Financial Insights. "As we continue to see pressure on increasing revenue, being more efficient, and handling current and future regulatory changes, the successful organizations will be those who not only embrace the new platform, but are willing to invest in it. How well organizations manage the four key technology disruptors of big data/analytics, mobility, cloud computing and social, will dictate how much long term success the organization will have."

For additional information about these predictions or to arrange a one-on-one briefing, please contact Sarah Murray at 781-378-2674 or sarah@attunecommunications.com. Reports are available to qualified members of the media. For information on purchasing reports, contact insights@idc.com; reporters should email sarah@attunecommunications.com.

About IDC Predictions

A hallmark of IDC's offering for three decades, the annual Top 10 Predictions reports provide IDC's outlook on the IT market, across industries, for the coming year. During the next 60 days, IDC will publish dozens of Top 10 Predictions documents for 2013. Please visit www.idc.com/predictions2013 for a complete listing.

About IDC Financial Insights

IDC Financial Insights assists financial service businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the banking, insurance, and securities and investments industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading technology, media, research, and events company. For more information, please visit www.idc-fi.com, email info@idc-fi.com, or call 508-620-5533. Visit the IDC Financial Insights Community at http://idc-insights-community.com/financial.

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