Annually, CGI leaders around the world meet face-to-face with business and IT executives to gather their perspectives on the trends affecting their enterprises, including business and IT priorities, IT spending, budgets and investment plans. In 2020, we conducted in-person interviews with 70 client executives within corporate and transaction banking, who indicate a continued focus on protecting client information through cybersecurity.
Interviews were conducted before and after the pandemic declaration by the World Health Organization (WHO) on March 11, 2020, providing unique insights into evolving priorities. We provide a short summary of some of these insights here.
Mounting and changing regulation continues as a top trend
|Mounting and changing regulation and security standards is the top trend by impact once again in 2020. While other top trends also remain the same for 2020, we see a shift with real-time operational platforms rising in impact, and industry standards, real-time payments and regulations decreasing.||
2020 top trends by impact
Post-pandemic declaration trends show a rise in cost reduction
For interviews conducted after the pandemic declaration by WHO on March 11, 2020, mounting and changing regulation and security standards lessens in impact as a trend (-32%), while driving down costs to adapt to new banking economics also drops (+15%), compared to earlier interviews.
Results from digital strategies rise but remain low
This year, 89% of executives have a digital strategy in place, the same as last year, and 21% are producing results, up from 9% in 2019. For 52%, their strategy extends across the enterprise, while a further 8% report their enterprise strategy extends to their external ecosystems.
More than half of executives cite having highly agile business models for digitization
When it comes to addressing digitization, 36% of executives say their business model is highly agile (score of 8 or higher on a scale of 1 to 10, with 10 the highest), down 1% from last year.
Interest in substantial managed services dramatically rises after pandemic declaration
This year we asked executives within corporate and transaction banking to share why they use managed services and how they plan to leverage them. Top reasons cited include driving practical, continuous innovation, business agility and cost savings. Responses concerning plans for using managed services vary before and after the pandemic declaration, as in the example shown.
% planning to leverage substantial managed applications in 3 years : 28% 2020 post declaration 18% 2020 prior to declaration
Benchmarking clients’ satisfaction with their own IT organization
(Scores from 1 to 10, with 10 most satisfied, showing 3 out of 10 available attributes)
For the third year, business and IT executives interviewed ranked their satisfaction with their own IT organizations based on the 10 key attributes of a world-class IT organization. For most attributes, business leaders report lower satisfaction levels with their internal IT compared to IT leaders. Consistently introducing innovation has the lowest average score at 6, but this is up 0.1 pts from 2019.
Learn more about the 2020 CGI Client Global Insights.
Learn more about CGI in Corporate and Transaction Banking.
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