Internet Banking Vendors: Escaping the Doldrums

Saturday 8 November 2003 11:08 CET | News

Celent examines the winds that will blow away Internet banking vendors? doldrums: features and functionalities that clearly contribute to ROI. The doldrums should dissipate by 2005 when Celent predicts IT spending will break the US$1 billion mark.

Internet banking has entered into a mature phase, for better and worse. On the plus side, technological improvements have made applications increasingly reliable, scalable, flexible, and customizable, causing bank and consumer satisfaction to steadily increase. However, the flow of RFPs has notably slowed and the competitive field continues to be crowded. In addition, for much of the banking market, a single point-solution is no longer interesting on its own. Consequently, for solution providers to survive, they must adapt to banks? demands for solutions that extend beyond retail Internet banking.

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Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
This article is part of category

Banking & Fintech