What will the bank of the future look like? Where does innovation potential lie in banking in the future? The Bank & Future innovation forum provides answers to these questions.
Banks and service providers, including Wincor Nixdorf, have bundled their skills in this forum under the academic management of the Fraunhofer Institute for Industrial Engineering (IAO). The pan-European Bank & Future 2013 trend study is a significant part of the research work. The survey for this has just been launched. In addition, Wincor Nixdorf has integrated state-of-the-art self-service systems in the new Fraunhofer IAO's Bank & Future Next Generation showcase in Stuttgart.
The purpose of the innovation forum is to develop pioneering innovations and practical solutions both for the bank of the future and for banking in the future. In addition to this trend study the forum's work consists in banking foresight management, which aims to detect trends at an early stage, assess the implications for banks and derive sustained strategies from them. Another area of research covers banking business development, comprising the identification of market opportunities and generation of new business models. Research into banking business engineering involves developing new services in line with the respective target group and shaping these services with the aid of networking between banks, customers and partner enterprises.
The institute is now surveying bank managers for the ninth time in the trend study just launched to find out what they think about current challenges in the banking market and the resulting strategies to tackle them. The survey focuses on trends and developments in the fields of customer relationship and sales management, product and service innovations, organization and methods, and technologies.
"The study, which we conduct with support from many well-known partners in the banking sector, has become established as a significant trend barometer in German-speaking countries over the years. For many decision-makers at banks it acts as an important basis for reaching decisions about organizing their future strategies and business operations," says Claus-Peter Praeg, who is in charge of the study at Fraunhofer IAO.
"The requirements of banks in relation to customer focus, innovation and efficiency demand the development and deployment of new organizational and, in particular, technology solutions. Against this backdrop we, as an IT solution provider for banks and savings banks, are very interested in supporting the necessary changes both with this study and with the latest technologies in the Urban Living Lab, and have been an active partner in this project for years," says Edmund Schaefer, head of Wincor Nixdorf's business with banks in Germany, Austria and Switzerland.