Fiercefinance asks the question: What separates the top banks from the rest of the pack? Aite Group has issued a report that notes one secret: Continued investment in IT. The research group has identified 24 "high-performers" from 2009 and 2011 based on operating performance and returns. It says that one common characteristic is that each continued in to invest in IT through the economic downturn.
"In 2009, nearly half of all surveyed banks increased their IT budget over 2008 levels. In 2010, however, nearly two-thirds of high-performing banks increased their IT spending while just 36 percent of other banks followed suit. High-performers are also more likely to have deployed mobile banking services and to outsource IT solutions."
Investment at top banks tended to take the form of outsourced services and processes. High-performing banks tend to "analyze technology needs and capabilities on a case-by-case basis and determine for each area whether outsourcing is the right approach. To operate in a heavily outsourced environment, high-performing banks must have effective processes for selecting, managing, and evaluating IT vendors..."
Read more: http://www.aitegroup.com/Reports/ReportDetail.aspx?recordItemID=865
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