PUBLISHER: IDC | PRODUCT CODE: 1354212
PUBLISHER: IDC | PRODUCT CODE: 1354212
IDC's Worldwide Digital Transformation Use Case Taxonomy, 2023: Banking
This IDC study discusses how the banking industry is accelerating its recovery from, and overcoming of, the disruptions in 2020 through the digital mission of "accelerated banking." The taxonomy defines six strategic priorities to accomplish the industry's digital mission of accelerating the pace of transformation to get back to an environment of innovation. It defines separate programs that support each strategic priority. Under each program are a set of use cases, which are discretely funded efforts supporting a program objective."The disruption in 2020 put the banking industry on its heels, forcing it to focus on immediate resolution to weaknesses in resiliency and scalability," said Jerry Silva, vice president, IDC Financial Insights. "But as the industry comes back from a significant disruption, the focus is turning on the acceleration of transformation to quickly get back to an environment of innovation."
IDC's Worldwide Digital Transformation Taxonomy
Digital Transformation Taxonomy Changes for 2023
Taxonomy Overview
- Understanding and Using IDC's Digital Transformation Taxonomy
Definitions
- Banking
- Digital Mission: Accelerated Banking
- Strategic Priority: Customer Engagement
- Customer Engagement Program: Assisted Channels
- Customer Engagement Program: Digital Channels
- Customer Engagement Program: Customer Intelligence
- Customer Engagement Program: Product Innovation
- Strategic Priority: Digital Trust and Stewardship
- Digital Trust and Stewardship Program: Consumer Identity Management
- Digital Trust and Stewardship Program: Regulatory Compliance
- Digital Trust and Stewardship Program: Fraud Management
- Digital Trust and Stewardship Program: Cybersecurity
- Digital Trust and Stewardship Program: Risk Management
- Strategic Priority: Resilient Infrastructure
- Resilient Infrastructure Program: Platform Modernization
- Resilient Infrastructure Program: Self-Healing Infrastructure
- Resilient Infrastructure Program: Data Mastery
- Strategic Priority: Operational Efficiency
- Operational Efficiency Program: Workflow Automation
- Operational Efficiency Program: Digital Workforce
- Operational Efficiency Program: DevOps Modernization
- Strategic Priority: Open Banking
- Open Banking Program: Connectivity Infrastructure
- Open Banking Program: Business Model Innovation
- Open Banking Program: API and Data Monetization
- Strategic Priority: Sustainability
- Sustainability Program: Green Finance
- Sustainability Program: ESG Risk Management
- Sustainability Program: Sustainable Enterprise
- Strategic Priority: Customer Engagement
Learn More
- Appendix
- IDC's Digital Transformation Spending Guide
- Related Research
- Synopsis
