| | February 20156CIOReviewCopyright © 2015 CIOReview, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewFEBRUARY -12- 2015CIOReview's circulation is audited and certified by BPA International (Audit Pending). Mailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 February 12 - 2015, vol 4 SE 03 Published by CIOReview To subscribe to CIOReviewVisit www.cioreview.com Editor-in-Chief Pradeep ShankarEditorial StaffSalesT:510.565.7564 VisualizersStephen ThomasArpita GhoshBanking Technology SpecialCIOReviewLeena Josephleena@cioreview.comSebastian Jacobsebastian@cioreview.comCaroline D'Souza caroline@cioreview.comJem Elizabeth Matthew Jacob Sonia Sachar Aaron PierceJoe PhilipNijhum RudraThe banking industry is undergoing a once in a generation shift--digitization, changing customer behavior and regulation that are driving the change. Banking leaders must act decisively in the face of substantial uncertainty, balancing the need to operate efficiently while keeping pace with rapidly changing business models, shifting regulatory requirements and conflicting market outlooks. Banks appear to be both cognizant of the challenges ahead and making many of the right investments to be able to offer the customer-centric banking services to compete successfully in the future.Bankers are convinced that investing in technology is critical to meet the challenges of a rapidly-changing environment. They realize technology is critical in improving efficiencies, enhancing the customer experience, and achieving regulatory compliance. It is expected that banks will spend close to $200 billion on technology in 2015.Banks are making business and technology investments to change their business models to comply with new regulatory requirements. They are enhancing the big data technology capability to successfully leverage their huge database of customer data and are increasingly investing into analytics to understand customers' needs, improve risk management and compliance, and boost efficiency. Banks are rolling out new channels such as social media and are likely to increase technology investments into digital channels (e.g., Internet, mobile, tablet, and social media) and push toward digital convergence. They are also looking to provide better services and products in an increasingly competitive environment and reduce their total cost of ownership by rationalization of the legacy landscape, with a result in core banking transformation gaining pace.It goes without saying that banks with the ability to invest and integrate information technology will dominate the highly competitive global market. There are plethora of technology solutions in the marketplace to address the new paradigm of the banking industry. Our editorial team evaluated several of these companies to present you the 20 most promising banking technology solution providers. We believe this information will help you, while you get prepared for a more demanding consumer and new competition from inside and outside the industry. We would love to hear your experience of leveraging innovative technology solutions to steer your business.Pradeep Shankar Editor-in-Chief editor@cioreview.comThe Future BankingEditorial
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