Each year, CGI meets face-to-face with business and IT leaders to hear their perspectives on the trends affecting their organizations. In 2017, we conducted 200 in-person interviews with banking clients—including retail banking, corporate and transaction banking, and capital market organizations—to hear more about their top trends and priorities.

Top trends in retail banking

Retail banking executives continue to be concerned with the impact of mounting regulation and security standards, along with the growing threat of financial crime. Gaining and satisfying customers also dominates, with executives recognizing the need for digital-driven, omni-channel experiences in an increasingly competitive banking environment.

2017 trends

  • 79%  Mounting regulation and security standards
  • 78%  Omni-channel demand for personalized services
  • 73%  Highly competitive and evolving open banking market
  • 71%  Growing threat of cyber and other financial crimes
  • 64%  Increasing adoption of digital as primary channel

Looking ahead, executives see digital transformation demands straining legacy infrastructure. At the same time, they are focused on the potential impact that emerging technologies such as artificial intelligence, automation and blockchain may have on retail banks.

Investing for innovation

While retail banking maintenance budgets are remaining relatively flat, organizations are increasing budgets by 3.8 percent, on average, to invest in new projects. Investment in new initiatives map to digital transformation drivers such as the desire to increase efficiency and agility, improve the customer experience, protect the bank, modernize payments and better compete in the new FinTech-driven environment.

Focus areas for retail banking client innovation

  • Process automation
  • Omni-channel customer management
  • Agile IT delivery and infrastructure
  • Predictive analytics, including artificial intelligence and cognitive computing
  • Securing the bank and its customers
  • Payments modernization
  • FinTech partnerships and open API banking

Discover the insight

Download additional trend information from the 2017 CGI Client Global Insights retail banking summary, and contact us for a copy of the full report and to arrange a personal discussion with a CGI retail banking expert for further analysis and insights.