target audience: TECH SUPPLIER Publication date: Aug 2023 - Document type: Market Presentation - Doc Document number: # EUR251119023
Industry Analysis Perspective: European Financial Services, 2023
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Abstract
This IDC Industry Analysis Perspective provides technology vendors' sales teams, marketers, and product and channel managers with foundational insight into the financial services industry in Europe in 2023. By understanding how the business side operates, these vendor representatives can clearly see where and how their technology products and services can add value for financial institutions. They will also gain insight into the major players in the industry, as well as future trends.
"Europe's financial services industry is dynamic and constantly evolving, but it also faces several substantial challenges. Regulatory requirements force financial entities to adopt measures to ensure operational resiliency, while also innovating (using digital technologies) to remain competitive and exceed consumer expectations. Current investments in infrastructure modernization will quickly give way to more advanced digitalization initiatives that leverage cloud, AI, and big data and analytics. Significant opportunities exist for technology vendors; however, vendors must be willing to invest in understanding the nuances of regional markets." — Research Director George Briford, IDC Financial Insights