The Future of IT in Finance

An End User Perspective, U.S., Europe, and Latin America


The financial industry is a dynamic, ever-changing one due to new regulatory requirements and dependence on the world’s economy. This study explores the challenges for IT departments, most effective technologies in meeting business challenges, and future investments.
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Table of Contents

1. Research Objectives and Methodology
2. Executive Summary
3. Attitudes toward General Business Applications Opportunities in the Financial Industry
Major Challenges for IT in the Financial Industry
Major Challenges for IT by Company Size
Major Challenges for IT by Region
North America
Europe
Latin America
Major Challenges for IT by Type of Organization
Banking
Insurance
Other Finance
4. Influential Factors on IT Investments in the Financial Industry
Primary Drivers for IT Investments
Primary Drivers for IT Investments by Company Size
Primary Drivers for IT Investments by Region
Primary Drivers for IT Investments by Type of Organization
5. Current and Future Use of IT in Financial Industry
Current Usage of IT
Current and Future Usage of IT
Current Usage of IT by Company Size
Current Usage of IT by Region
Current Usage of IT by Provider
Technology Deployment
Frequency of Technology Use within the Organization
Effectiveness of IT in Addressing Top Business Challenges
Business Challenges
Dealing with New Regulatory Requirements
Automating and Streamlining Business Processes
6. Impact of Influential Factors on IT in the Financial Industry
Technical Note: Understanding Perceptual Maps
Perceptual Map: IT and Influential Attributes: Financial Industry
7. Opportunities with Vendor Relationships in the Financial Industry
Communications Infrastructure, Current Usage
Communications Infrastructure, Current and Future Usage
Reasons for Not Using Certain IT Solutions
High Security Risks
8. IT and Cloud Computing in the Financial Industry
Criteria When Selecting a Cloud Provider
Criteria When Selecting a Cloud Provider by Company Size
Criteria When Selecting a Cloud Provider by Region
Attitudes toward Use of Cloud Computing/Hosted Communications
Satisfaction with Cloud Computing Use by Company Size
Satisfaction with Cloud Computing Use by Region
Attitudes Toward Cloud Computing by Non Users
IT Deployment in the Cloud
Current Deployment of IT in the Cloud Industry
By Company Size
By Region
By Type of Organization
9. Social Media Strategies in the Financial Industry
Use of Customer-Facing Social Media
Implementation of Customer-Facing Social Media
Current Implementation of Customer-Facing Social Media by Company Size
Effectiveness of Customer-Facing Social Media to Increase the Organization's Revenues
Use of Social Media for Internal Collaboration
Implementation of Internal Employee Collaboration Social Media Strategies
Internal Employee Collaboration Social Media Strategies Fully Implemented by Company Size
Potential Benefits of Social Media within the Organization
10. Mobile Devices in the Financial Industry
Company Supported Mobile Operating Systems
Android
Apple iOS
Windows Mobile
Blackberry
Other operating systems
Personal Devices Allowed to Connect to Company Network (Bring Your Own Device)
Smartphones
Tablets
Laptops
BYOD Policy and Enforcement
11. Available IT Budgets for IT in the Financial Industry
The Big Picture of IT Budgets
12. Impact of the Workforce on IT
Distribution of Worker Types by Industry
13. Profile
Country of Residence and Years in IT: Financial Industry
IT Decision Making Role and Job Title: Financial Industry
Companies’ and Respondents’ Geographic Reach: Financial Industry
Company's Global Annual Revenues: Financial Industry


List of Figures & Charts

1. Technical Note: Understanding Perceptual Maps
2. Perceptual Map: IT and Influential Attributes: Financial Industry
3. The IT Budget Picture (in USD)–Averages and Mean Percent, NA, Latin America, and Europe, 2014
4. The Workforce Picture by Industry—Now and in the Future, NA, Latin America, and Europe, 2014


1. Financial Industry: Company Size, NA, Latin America, and Europe, 2014
2. Major Challenges for IT —Percent of Agree/Strongly Agree Responses, Financial Industry, NA, Latin America, and Europe, 2014
3. Top 5 Major Challenges for IT by Company Size, Percent of Agree/Strongly Agree Responses, Financial Industry, NA, Latin America, and Europe, 2014
4. Top 5 Major Challenges for IT—Percent of Agree/Strongly Agree Responses, Financial Industry: NA, Latin America, and Europe, 2014
5. Top 5 Major Challenges for IT—Percent of Agree/Strongly Agree Responses, Financial Industry: NA, Latin America, and Europe, 2014
6. Primary Drivers for IT Investment—Percent of Somewhat/Very Important Responses, Financial Industry: NA, Latin America, and Europe, 2014
7. Top 5 Primary Drivers for IT Investments—Percent of Agree/Strongly Agree Responses, Financial Industry: NA, Latin America, and Europe, 2014
8. Top 5 Primary Drivers for IT Investments—Percent of Agree/Strongly Agree Responses, Financial Industry: NA, Latin America, and Europe, 2014
9. Top 5 Primary Drivers for IT Investments—Percent of Agree/Strongly Agree Responses, Financial Industry: NA, Latin America, and Europe, 2014
10. Current Usage of IT, Financial Industry: NA, Latin America, and Europe, 2014
11. Current and Future Usage of IT, Financial Industry: NA, Latin America, and Europe, 2014
12. Current Usage of IT, Financial Industry: NA, Latin America, and Europe, 2014
13. Current Usage of IT, Financial Industry: NA, Latin America, and Europe, 2014
14. Current Usage of IT, Financial Industry: NA, Latin America, and Europe, 2014
15. Technology Deployment, Financial Industry: NA, Latin America, and Europe, 2014
16. Frequency of Technology Use within the Organization, Financial Industry: NA, Latin America, and Europe, 2014
17. Ability of IT to Address Top Business Challenges- Percent of Effective/Very Effective Responses, Financial Industry: NA, Latin America, and Europe, 2014
18. Effectiveness of Technologies in Dealing with New Regulatory Requirements, Financial Industry: NA, Latin America, and Europe, 2014



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