European Retail Banking Technology Business Update Q1 2009

This brief looks at the key market developments in European retail banking during Q1 2009 and provides a summary of selected retail banking results, an overview of recent M&A activity, highlights of other notable industry developments and insights into the findings of Datamonitor's latest Retail Banking Technology Spending Strategies survey.

Report Highlights
As anticipated, the full-year financial results for the majority of Europe's banks were nothing short of disastrous, although nobody should be surprised by this. Having seemingly weathered the storm caused by the financial crisis, Europe's banks have moved from 'protect & survive' to a position of 'stabilize and rebuild'.

The outlook for IT spending remains unchanged: carefully targeted investments will continue to be made.

Cost reduction and increased efficiencies are the most important business objectives for IT investment strategy in 2009. Investing in online channels is a high priority, as the technology has the ability to reduce the total cost to serve. IT investment in the branch network is also increasing.
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Executive summary
Industry update
Topical research insights
Highlights of Datamonitor’s latest Retail Banking Technology Spending Strategies survey
Key take-outs
Further reading
Contact
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