Banks increasing innovation spending

Infosys survey says banks spending on innovation

A survey from Infosys and Efma has revealed that the majority of retail banks around the world are spending more and more on innovation with particular focus being placed on mobile and online services (view press release).  

Of the 300 bankers surveyed in 66 countries across EMEA, Asia-Pacific and the Americas, 93% said that they expect to offer mobile payment services and 89% indicated that they will offer tablet banking apps within the next three years.

Attracting new customers and growing revenues were the main reasons given for the increased spend on innovation. As part of this, better integration with social media sites such as Facebook and Twitter is seen as another priority with 87% of banks allocating time and funds to focus on this area while 86% also highlighted the importance of services such as Web chat, video conferencing and click-to-call.

“The growing focus on mobile devices and online innovation reinforces the rapid adoption of these channels. By offering increased interactivity and personalization, they clearly have the potential to drive growth,” said Efma secretary general Patrick Desmarès.           

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