ISG Provider Lens™ report will look at how banks are using technology service providers to improve their agility
STAMFORD, Conn., June 11, 2020 (GLOBE NEWSWIRE) — Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has launched a research study examining providers offering technology and related services to the banking and financial services industry.
The study results will be published in a comprehensive ISG Provider Lens™ report, called Banking Industry Ecosystem 2020, scheduled to be released in November. The report will cover core banking services offered by dozens of technology service providers.
In particular, the report will examine the ways service providers are giving banks and other financial institutions increased operational agility, said Jan Erik Aase, director and global leader, ISG Provider Lens Research. “Established banks have a patchwork of legacy systems that adversely affect agility and can create hurdles in customer and client journeys,” he said. “To address this, many retail and commercial banks are evaluating next-generation core banking systems and digital capabilities.”
Enterprise buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.
ISG has distributed surveys to more than 40 banking technology and service providers. Working in collaboration with ISG’s global advisors, the research team will produce four quadrants representing the services and products the typical enterprise client is buying in the banking IT space, based on ISG’s experience working with its clients. The four quadrants that will be covered are:
- Core Banking Platforms and Implementation Services – Retail, comprising off-the-shelf or custom-built software with implementation and system integration services. Centrally positioned for all operational activities, core banking platforms are vital back-end systems for banking transactions in the retail space.
- Core Banking Platforms and Implementation Services – Corporate, including off-the-shelf or custom-built software with implementation and system integration services. These core banking platforms are vital back-end systems for banking transactions in corporate environments.
- Payments Ecosystem Services, measuring the ability of systems integrators and managed services providers to help customers create, implement and support payment-based business services in the global payment ecosystem. This ecosystem comprises payment processors, payment networks, merchants, banks and other intermediaries.
- Know Your Customer (KYC) and Anti-Money Laundering (AML) Services, covering outsourced compliance and risk mitigation activities to address an increasingly stringent regulatory environment due to fraudulent activities, security vulnerabilities and privacy concerns. Service providers must offer mature solutions that combine in-depth compliance knowledge and security expertise with emerging technologies such as artificial intelligence, robotic process automation and analytics.
The report will cover the global banking technology market and examine products and services available in the U.S., Germany, the U.K., Switzerland and the Nordic countries. ISG analysts Stanton Jones, Gowtham Kumar and Oliver Nickels will serve as lead authors of the report.
A list of identified providers and vendors and further details on the study are available in this digital brochure. Companies not listed as banking service providers can contact ISG and ask to be included in the study.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe and Latin America, as well as in the U.S., Germany, the U.K., France, the Nordics, Brazil and Australia/New Zealand, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
The series is a complement to the ISG Provider Lens Archetype reports, which offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
Starting this year, each ISG Provider Lens™ study will include a Global Summary to help enterprise subscribers better understand provider capabilities across all geographic markets covered by that study. All ISG Provider Lens™ reports also will now include an Enterprise Context feature to help executives quickly identify key insights related to their roles and responsibilities.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
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CONTACT: Will Thoretz Information Services Group, Inc. +1 203 517 3119 [email protected] Jim Baptiste Matter Communications for ISG +1 978 518 4527 [email protected]
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