How Cloud Will Transform the Retail Banking Industry

Stella Gatziu Grivas, Ruven Schürch, Claudio Giovanoli

Abstract

This paper focusses on current trends in the banking industry and on illustrating how these trends can be supported by cloud computing. The main characteristics of cloud computing that could support transformation are facilitated data accessibility, enabled processing of data from various sources and the opportunity of an easier integration of functions or data. Trends in the banking industry are increasing customer centricity, redesigning of branches and deployment of new communication and distribution channels. For each trend we report quotes general information to provide an overview of the transformation caused by this trend. We identify which business processes are influenced, how they are affected and we explain how cloud computing could support the identified changes.

References

  1. Accenture, 2012. Banking 2016: Accelerating growth and optimizing costs in distribution and marketing,
  2. Bain & Company Inc., 2012. Retail-Banking: die Digitale Herausforderung, Munich.
  3. Bain & Company Inc., 2015. The future of Banking, customer behavior and loyalty in retail banking.
  4. Bank for International Settlement (BIS), 2010. Basel III: A global regulatory framework for more resilient banks and banking systems, Basel.
  5. BIS & IOSCO, 2012. Principles for financial market infrastructures.
  6. Dybka, E. et al., 2013. Cloud Computing in the financial sector.
  7. Ernst & Young, 2012. The customer takes control, Global Consumer Banking Survey 2012.
  8. Hellmich, M. et al., 2014b. Banking Study, Basel: Business Transformation Academy (BTA).
  9. Hellmich, M. et al., 2014a. Benefitting from the data deluge. 360° the business transformation journal.
  10. Hölker, L. & Rennhak, C., 2014. Herausforderungen, Trends und Handlungsempfehlungen für die Retail Bank der Zukunft, Munich: Munich Business School.
  11. IBM Corporation, 2013. Cloud computing in banking, driving business model transformation, Somers: IBM Corporation.
  12. IDC, 2015. Worldwide SaaS and Cloud Software 2015- 2019 Forecast and 2014 Vendor Shares.
  13. IDG Enterprise, 2014. Computerworld Forecast Study 2015.
  14. KPMG LLP, 2011. Basel III: Issues and implications, Delaware: KPMG International.
  15. Kröner, M., Czajkowski, S. & Uhl, A., 2014. New Banking Trends. 360° the business transformation journal.
  16. Nicoletti, B., 2013. Cloud Computing in Financial Services, Chippenham: Palgrave Macmillan.
  17. Vater, D., Cho, Y. & Sidebottom, P., 2012. The digital challenges to retail banks, New York: Bain & Company.
  18. Moore, R., Lopes, J., 1999. Paper templates. In TEMPLATE'06, 1st International Conference on Template Production. SciTePress.
  19. Smith, J., 1998. The book, The publishing company. London, 2nd edition.
Download


Paper Citation


in Harvard Style

Grivas S., Schürch R. and Giovanoli C. (2016). How Cloud Will Transform the Retail Banking Industry . In Proceedings of the 6th International Conference on Cloud Computing and Services Science - Volume 1: CLOSER, ISBN 978-989-758-182-3, pages 302-309. DOI: 10.5220/0005910903020309


in Bibtex Style

@conference{closer16,
author={Stella Gatziu Grivas and Ruven Schürch and Claudio Giovanoli},
title={How Cloud Will Transform the Retail Banking Industry},
booktitle={Proceedings of the 6th International Conference on Cloud Computing and Services Science - Volume 1: CLOSER,},
year={2016},
pages={302-309},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0005910903020309},
isbn={978-989-758-182-3},
}


in EndNote Style

TY - CONF
JO - Proceedings of the 6th International Conference on Cloud Computing and Services Science - Volume 1: CLOSER,
TI - How Cloud Will Transform the Retail Banking Industry
SN - 978-989-758-182-3
AU - Grivas S.
AU - Schürch R.
AU - Giovanoli C.
PY - 2016
SP - 302
EP - 309
DO - 10.5220/0005910903020309