Kristin R. MoyerIn a previous post I wrote that banks need to stop missing opportunities to innovate. The market will improve, and those firms that transform their operations first will be in positions to take advantage of new market opportunities as they emerge in ways that slower movers will not be able to do.
Our “Hype Cycle for Banking and Investment Services Operational Technologies, 2009“ shows an interesting dynamic. The distribution of technologies in this Hype Cycle is quite unusual. There is only one entry from the trigger-peak midpoint, all the way to the trough. This is usually the most highly populated portion of Hype Cycles. We believe this is because there has been a scarcity of new technologies and innovations in operational technologies during the past few years. Much of this is due to the complexity of transformational IT initiatives in operations – such projects are large and time consuming to execute.
Additionally, as the financial crisis became evident in 2007, and then much more severe in 2008 and into 2009, Gartner saw less overall innovation from the vendor community. The result has been a lack of technologies feeding the peak of the Hype Cycle and, therefore, fewer technologies are now falling into the Trough of Disillusionment.
We believe that now is not the time for banking and investment services firms to sit idle with their operations technologies. The market will improve, and those firms that transform their operations first will be in positions to take advantage of new market opportunities as they emerge in ways that slower movers will not be able to do.
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Category: Uncategorized operations Tags: hype cycle
