IDC FutureScape: Worldwide Banking 2024 Predictions
This IDC study provides IDC's top 10 predictions for worldwide banking for 2024 and beyond."Today's goal for banking worldwide is to overcome the immediate challenges in the markets while mapping out a longer-term strategy for growth and innovation during calmer times," said Jerry Silva, research vice president, IDC Financial Insights. "The banks that can map out strategic investments, leveraging appropriate technologies, will be best prepared to remain resilient and profitable in any situation."
Please Note: Extended description available upon request.
- IDC FutureScape Figure
- Executive Summary
- IDC FutureScape Predictions
- Summary of External Drivers
- Predictions: Impact on Technology Buyers
- Prediction 1: Expect 50% of the Top 100 Banks to Hyper-Personalize Customer Rewards and Loyalty Programs by 2026
- Associated Drivers
- IT Impact
- Guidance
- Prediction 2: Fraud Experts Are Forecasting Increases in Fraud Using GenAI, so Fraud Solutions Will Need to Identify the Use of GenAI in Fraud Schemes by 2024
- Associated Drivers
- IT Impact
- Guidance
- Prediction 3: By 2025, 33% of Financial Institutions Will Integrate Enterprise Intelligence in Their Lending Operations That Will Reduce Credit Decisioning Time by 50%
- Associated Drivers
- IT Impact
- Guidance
- Prediction 4: By 2028, Powered by CX Analytics at the Edge, Real-Time Sentiment Analytics Will Drive 33% of Customer Engagements, Delivering 10% Growth in Customer Loyalty and Retention for Banking Firms
- Associated Drivers
- Business Impact
- IT Impact
- Guidance
- Prediction 5: By 2026, 15% of Cross-Border Payments Will Settle in Real Time
- Associated Drivers
- IT Impact
- Guidance
- Prediction 6: By 2026, 75% of Financial Institution Lenders Will Add Lending Staff Resources Dedicated to Ensuring Compliance with New Regulations for Explainable AI in Credit Decisions
- Associated Drivers
- IT Impact
- Guidance
- Prediction 7: By 2025, 60% of Corporate Banks Around the Globe Will Introduce Confirmation of Payee to Fight Fraud and Provide Corporates with Secure Instant Payments for Their B2B and B2C Services
- Associated Drivers
- IT Impact
- Guidance
- Prediction 8: By 2026, 50% of the Banks Will Adopt Alternate Data Models to Supplement Legacy Credit Approval and Fraud Detection Decision-Making Models
- Associated Drivers
- IT Impact
- Guidance
- Prediction 9: By 2026, Regulatory Expectations with Respect to Operational Resiliency and Cybersecurity Will Continue to Expand to Cover Over 50% of Banks
- Associated Drivers
- IT Impact
- Guidance
- Prediction 10: Recent Bank Failures Will Motivate Over 25% of Banks to Use AI to Monitor and Assess Banking Risks in Real Time by 2025
- Associated Drivers
- IT Impact
- Guidance
- Advice for Technology Buyers
- External Drivers: Detail
- AI Everywhere — Generative AI Takes the Spotlight
- The Drive to Automate — Maximizing Efficiency and New Opportunities
- Global Supply Chain Resiliency — Push for Diversification
- Cybersecurity and Risk — Building Resilience Against Multiplying Threats
- The Digital Business Imperative — Competitiveness and Outcomes
- Everything as a Service Intensifies — Transforming Models to Drive Change
- Dynamic Work and Skills Requirements — New Work Mode Era
- Learn More
- Related Research
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