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71% of Financial Sector CIOs Believe Mobile Banking Will Be Important to Their Customers By 2015

New study from Fujitsu highlights increasing importance of mobile in reshaping the financial services sector

Fujitsu UK & Ireland

London, October 10, 2012

A study investigating the top business priorities for the Financial Services industry in the UK shows that mobile will be an increasingly important channel for British financial institutions over the next three years. 49% of organisations stated that mobile banking is important to customers today, while 71% predict it will be by 2015.

The study, commission by Fujitsu and carried out by Coleman Parkes, was conducted with 50 CIOs from across the UK wholesale, investment and retail banking community. Three quarters of respondents felt that the main benefit of investing in mobile banking was the ability to retain customers and also to enhance customer loyalty through better customer experience. This was second only to it being a new revenue stream for financial institutions.

However, IT leaders admitted that there are still significant barriers to deploying a successful mobile banking strategy. 64% feel that security is still a significant barrier, with 42% also deterred by the investment needed.

“The reputational crisis that the financial services industry has been through has tested customer loyalty”, said Anthony Duffy, director of retail banking, Fujitsu UK & Ireland. “Mobile banking offers a growing route to customer acquisition and to enhance satisfaction. There is a need for financial institutions to reinvigorate their relationships with customers – and mobile provides a great opportunity for them to do this.”

  • Cloud computing is now high on the CIO agenda, with 60% of banks believing that it will help them achieve their business strategies. Furthermore 64% believe that cloud computing is a key enabler of change within their organisation. A significant number of respondents plan on deploying cloud-based solutions to drive efficiency with core functions, particularly in retail banking functions such as loan processing (77%), credit card processing (70%) and mortgage processing (64%)
  • Investment is critical, with 65% CIOs warning that in order to transition the IT department to truly meet changing business needs, extra budget will be required
  • The right skills are also crucial. Financial Services companies are increasingly looking for help from third-parties, provided that the latter can demonstrate understanding of core processes. 67% of interviewees look for this strength, with a further third seeking enterprise/infrastructure skills.

“The financial services industry has faced some tough challenges recently and will continue to do so for a few years, at least”, confirmed Duffy. “Banks need to adapt, change and seek new revenue streams in order to thrive and succeed”.


Notes to editors

For a copy of the full report – Reshaping ICT, Reshaping Business: Financial Services – please contact teamfujitsu@harvard.co.uk


About Fujitsu

Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Over 170,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.5 trillion yen (US$54 billion) for the fiscal year ended March 31, 2012. For more information, please see: www.fujitsu.com

Fujitsu UK and Ireland is a leading IT systems, services and products company employing 11,400 people with an annual revenue of £1.7 billion. Its business is in enabling its customers to realise their objectives by exploiting information technology through its integrated product and service portfolio. This includes consulting, applications, systems integration, managed services and product for customers in the private and public sectors including retail, financial services, telecoms, government, defence and consumer sectors. For more information, please see: uk.fujitsu.com

Contact

Katie de Cozar Rushforth

+ 44 (0) 20 7861 2800
teamfujitsu@harvard.co.uk
Harvard PR

Graham Goulden

+ 44 (0) 843 354 9568
graham.goulden@uk.fujitsu.com
Fujitsu UK & Ireland


Date: 10 October, 2012
City: London