Banking IT Services State of the Market Report 2020: Hyper-segmentation Strategy Enabled by Digital Capability Platforms and Data Exchanges

In this research, we carry out a detailed analysis of the banking industry, analyzing the forces shaping the industry’s future, especially in the light of the COVID-19 pandemic. We have highlighted the implications for key banking functions and recommended strategies for banks to thrive in the next normal. We analyze a hyper-segmentation strategy for banks that includes setting a strong foundation through a platform-based operating model and a data exchange. This report also studies the industry’s IT services spend and provides IT outsourcing spend analysis by Line of Business (LoB), geography, and IT services segment for banks.