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Frost & Sullivan: 2013 Global Predictions for the Financial Services Sector

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Frost & Sullivan's view on ICT in Financial Services: key perspectives for growth, market highlights, and key predictions for 2013

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Frost & Sullivan: 2013 Global Predictions for the Financial Services Sector

  1. 1. ICT EuropeFinancial Services Predictions for 2013
  2. 2. Key Perspectives on Growth for Financial Services in2012 Mobile devices become the key customer 1 interaction channel Regulatory pressures force financial 2 institutions to rethink their strategies Market participants increase efforts to ensure 3 interoperability and open environments Online and offline payment differences 4 blurred Cloud-based solutions expanding faster than 5 NFC-based solutions in the m-payments space Source: Frost & Sullivan analysis. 2
  3. 3. Market Highlights Key Market Highlights • The European mobile financial services is characterised by a relatively high uptake of m-banking services, an emergent adoption of m-payments, and long-term growth opportunities in international m-remittances. • The European population is slowly but surely moving to prepaid, online, and contactless payments for small amounts. In Poland, the end-user adoption of NFC payments will increase from 4.9% in 2015 to 10.3% in 2018. • The European market is evolving towards contactless payment card systems. Contactless cards growth will reach a CAGR (2011 to 2017) of 28.7%. • By 2018, 38.0% of global mobile phone shipped will be NFC-enabled . • With the massive adoption of smartphones in Europe, SMS and USSD will increasingly become less relevant. Among the countries covered in this study, smartphone penetration averaged 28.0% in 2011 (from 9.0% in Russia to 46.0% in the U.K.). • The annualised average amount used for online sales (in France, Sweden, Poland, Germany, and the U.K.) by use of a smartphone will be around €171 in 2012. In Russia, growing Internet penetration will be an important driver, reaching a CAGR (2011 to 2018) of 6.4%. Online sales will have a CAGR (2011 to 2018) of 10.6%. 3
  4. 4. Four Big Predictions for 2013 1 Sharp and dramatic increase in contactless payments Numerous commercial mobile payment offerings will be launched, but 2 mass adoption will only occur in 2014-2015 3 Cloud computing will remain as a cost-efficiency driver Social media and data analytics will gain stronger importance in the CIOs 4 agenda Source: Frost & Sullivan analysis 4
  5. 5. Does this Look Interesting? There’s More…We have helped a number of companies keep track of this industry.Contact us via one of the key members in our research delivery team to learn more… Adrian Drozd Jean-Noel Georges Saverio Romeo Yiru Zhong Research Director Global Program Director Team Leader Team Leader ICT Europe Financial Services Public Sector Energy/Utilities adrian.drozd@frost.com jean-noel.georges@frost.com saverio.romeo@frost.com yiru.zhong@frost.com 5

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