Cloud Banking Software Cold Feet

Cloud Banking Software Cold Feet

American banks lag behind Europe in cloud banking software adoption, according to Forbes, but they may be gaining some ground as regulatory demands for higher bank capital levels have created a reverse incentive for banks to adopt cloud in hope of shifting IT capital expenditures to operating expenditures.

The banking industry’s IT expenditures average about twice what other comparable industries spend, according to the Forbes Article.  Other motivators for the shift to cloud computing will include customer demands for better mobile banking services, quick time to value and the agility that the cloud offers.

“Our customers expect us to have the information available at our finger tips, and CRM enables us to have that better single view of the customer,” said Ian Walters, Managing Director of Business Banking, NatWest.  “So no matter who that customer speaks to, the next person that’s helps that customer will know what’s come before.”

When NatWest became a part of the Royal Bank of Scotland, one of the largest financial services groups in the world, they addressed new customer demands using Microsoft Dynamics CRM (Customer Relationship Management).

“The same customer may phone us one day, may see someone in the branch another day, and then web chat with us on a further and from a customer’s perspective it’s seamless all the way through,” said Jon Neil, Managing Director, Small and Community Banking, NatWest.  “Virtually all of our people use it every single day and don’t just use it once but use it constantly as a living breathing tool.”

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