Gartner Research

Three Practices Enterprise Architects in Banks Should Avoid in Order to Respond to Key Banking Trends

Published: 06 October 2014

ID: G00264746

Analyst(s): Mark McGregor

Summary

Banks see a combination of technology-enabled competitors and regulation eroding their competitive advantage. As enterprise architects seek to help banks respond more effectively to key trends disrupting their industry, they need to avoid a number of worst practices to ensure effective responses.

Table Of Contents
  • Key Challenges

Introduction

Analysis

  • EA Practitioners in Banking Who Focus on the Current State First and Foremost Will Remain Largely Irrelevant as the Business Seeks to Exploit Digitalization of Banking
    • Case Study: How Future-State Thinking Yields Better Business Outcomes
  • EA Initiatives in Banking With the Sole or Primary Goal of Reducing IT Costs and Complexity Miss the Business Strategic and Operational Changes Required to Respond to the Demands of Democratization of Money
  • Banks That Continue to Think and Act Transactionally Will Struggle to Deliver Valuable Business Outcomes That Support Changing Customer Experience Needs and Exploit the Expanded Business Opportunities of Open Banking

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