Gartner analyst David Furlonger shares his predictions for and visions of the future of the global financial services industry.
Today, cost-cutting takes precedence over all else. Institutions consider operational efficiency is far more important than operational effectiveness and value enhancement. Rather than take a hard look at where they want to be competitively in five years, business decision makers focus on next year‚s automation projects and blame the regulators for making life harder. The return-on-investment credo is flawed, because it is used to justify short-term returns against a few selected projects, not overall long-term growth.