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Posted by Manish Bahl on July 29, 2014
I have just published a report that builds on Forrester's research on CMOs' technology spending plans, focusing on India's banking industry. The Indian banking industry emerged unscathed from the 2008 and 2009 global financial crises, but it will not be immune to the age of the customer. My report outlines how technology will play an increasingly crucial role in implementing differentiated revenue models, a superior customer experience, and an optimized cost structure for banks. The key findings from the report include:
What it means for CIOs: The good news is that, as a CIO, you still control technology spending within your bank. But the bad news is that customer preferences are evolving much faster than the ability of banks to respond, resulting in a widening delivery gap. More than ever, CMOs — and the business — need you to address the age of the customer and enable them to serve digitally empowered customers. CMOs want CIOs to become partners rather than service providers. Don't ignore their expectations — but recognize that changing expectations require new priorities. Clients can read our actionable recommendations for CIOs who want to take the lead in transforming their bank's marketing technology. Are you game?
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