Retail banking is impacted by the introduction of both direct and indirect technologies. The benefits of direct technologies, such as the ATM, are immediately obvious and a clear business case can be made to justify investments in the technology. Conversely, indirect technologies such as the personal computer typically require convergence with other technologies before banks can realize the full benefit. This complexity typically requires banks to develop plans and expend funds on indirect technologies without a clear understanding of the eventual benefits. The convergence of indirect technologies, however, can have a transformative effect on banking, impacting banks profitability and operating models.
Join us at the CEB TowerGroup Financial Services Conference in Boston, May 23-35 to learn more. This session will contrast direct and indirect technologies and reflect on the previous impact of indirect technologies. The convergence of three newer indirect technologies –Mobile, BI, and Cloud- will then be detailed, identifying the impact on retail banking and describing the steps that banks and vendors should be taking to gain competitive advantage from these technologies.