In this moment, excerpted from the full-length interview between Bob Evans and IBM Cloud General Manager and Chief Revenue Officer Ivo Koerner, Koerner explains what the big trends are in the financial services industry.
00:08 — Bob asks Koerner to describe the biggest trends taking place in the financial services industry.
00:21 — Koerner notes that over the last several quarters, the fundamental trends in the financial services industry haven’t changed, but the environment has. A critical trend, he says, is driving more digitization into banking processes.
00:59 — Digital transformation is still at the core of the changes happening in the financial services industry. However, he notes the feedback from banks and financial IT leaders, who note that 60-70% of IT budgets are spent on maintaining compliance, leaving only 30% of the budget for innovation.
01:47 — “I think the pressure is even higher and the transformation need is as big as it was in the last couple of quarters,” says Koerner.
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