Perhaps no other industry sector has been subjected to as many economic and political challenges over the past decade as the financial services and insurance market – especially in Europe. Add the ongoing, complex technological changes, and every company has had to adapt quickly. The 2007-2008 global financial crisis presaged tougher market conditions and tighter oversight for banks and insurers while paving the way for a new breed of insurgent providers threatening the incumbents. In parallel, an era of restructuring, retrenchment, and realignment coincided with dramatic changes in customer expectations, a generational shift, and rapid technological advances. For organizations struggling with ingrained cultural inertia and the cost of legacy infrastructure, a robust response has been as necessary as it has been challenging.
In this whitepaper, we will explore the macro trends, how those trends have influenced business decision-making, and how, in turn, they have informed IT strategy and spending.
