A new survey commissioned by technology giant Fujitsu shows improving customer experience has overtaken cost-cutting measures as the main priority for IT decision makers at British and Irish financial services firms.
The new survey of 176 tech leaders found that 28% believe that improving customer experience is one of their top three priorities over the next three years, up from 22% in 2012. Cost cutting measures was narrowly second place with 27% of respondents suggesting this is among their top priority. This is sharply down from 51% in 2012.
“Focus on enabling growth and driving innovation are crucial in organizations moving forward in an increasingly competitive market under threat from technology-led entrants,” said Anne MacRae, head of financial services at Fujitsu UK & Ireland. “It’s exciting to see the beginning of trends that could lead to a significant change in the role IT plays within financial services.”
With consumers increasingly demanding an innovative and sleek customer experience the news that financial institutions are investing heavily in IT across the UK and Ireland is great for consumers and indicative of a wider global payments industry trend. Furthermore, the reduction in technology leaders stating that cost cutting measures are among their leading priorities suggests that the macro-economic conditions in the UK and Ireland are improving. This is another boon to the future of the payments industry in Europe.
Overview by Tristan Hugo-Webb, Associate Director, International Advisory Services