Gartner Research

Gartner's Digital Banking Taxonomy 2.0

Published: 13 February 2017

ID: G00310730

Analyst(s): Alistair Newton

Summary

The digitalization journey for bank CIOs is now in Phase 2. This research updates the essential capabilities required for banks to undergo successful business transformation.

Table Of Contents

Analysis

  • Core Concepts of the Taxonomy
  • Structural and Operational Flexibility
    • Culture Around and Perception of Risk and Reward
    • Cultural Change Must Include a Significant Shift in Perception
    • Bimodal and Operational Structures — Breaking Down the Silos
    • Role of Innovation, Incubators, Accelerators and Hackathons
    • Platforms, Open Banking and APIs
  • Analysis and Data Opportunity
    • New Forms, Stores and Sources of Customer Data
    • Back-Office and Customer-Facing Analytics Mean Better Decisions and Outcomes for All
    • Data Meets the Algorithmic Economy: Robots, Artificial Intelligence (AI), Digital Advisors and the Internet of Things (IoT)
    • Monetizing and Productizing Data for New Revenue Streams, Digital Data Brokers and Data Stores
  • Customer Access and Value
    • Extending the Value Chain for New Points of Customer Interaction
    • Findability, Delivery and Value to Act
    • Integrating Physical Touchpoints and Branches
    • Conversations, Empathy and Engagement
    • Customer Identity: Protect, Identify and Accelerate Customer Engagement
  • Financial Agility
    • Investment Rationale in Digital Technology — Fear, Fact and Faith
    • Allocation of Costs: A Physical to Digital Balance

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