From increments to exponents: 13 banking trends for 2013

Even as the banking industry grapples with sweeping changes in policy, regulation and customer expectations, a 'big bang' transformation in strategy or host systems may not be on the cards this year. A peripheral, step-by-step, incremental agenda will be beneficial for banks in 2013. But don't be swayed by the word 'incremental'. Each of the trends in this infographic has the potential to deliver significant business value.

1. Analytics gets real time, and mobility is a priority
Banks will combine existing and real-time information of a customer, transaction and product to integrate it with applications like location-based services.
2. The core evolves from transaction to intelligence
Transaction history will emerge as a way to identify new product / service requirements or push contextual offers.
3. Time to cash in the chips on gamification
Banks look to tap into the virtual gaming ecosystem or charge a fee for facilitating end-to-end payments of virtual currencies.
4. Socializing pays off with a new revenue stream
Social media goes from customer care to new selling opportunities - powered by peer recommendations, personalized services, and co-creation of products.
5. Banker, retailer, telco, technologist: the new gang of four
Banks go from collaboration to co-creation, with new services and products that combine offerings from banking and non-banking entities.
6. The teller is a jolly good seller
A shift in mindset and training programs help tellers become trusted salespersons who understand customer needs and proactively recommend new services.
7. 65 plus is easier to serve than 30 minus
The rush to woo Gen Y customers will be coupled with increased focus on senior citizens globally - as they have considerable savings, want simple products, and are less likely to jump ship.
8. Life stage banking gets overlaid with lifestyle banking
All customers at the same life stage like education or marriage may not have the same needs -- their lifestyle - influenced by geography, culture and interests - will define their banking solutions.

The CIO's Agenda

9. Baby steps, not big bang: progressive modernization
Use a phased approach to avoid disruption and experience the possibilities with projects for new channels, customer segments, and lines of business.
10. Try some real estate on the cloud
Use one of the big three - infrastructure, platform, or software as a service - to test the 'cloudability' of areas like end-user computing, payroll processing, or procurement.
11. If IT is a problem, IT is also the solution
Those grappling with legacy systems need creative thinking to build new self-healing IT layers that simplify processes and increase automation.
12. In search of the right outsourcing model
Rather than outsourcing everything or not outsourcing at all, banks need to outsource the right processes to the right IT or BPO partners.
13. Mobility: the ultimate troubleshooting device
The ubiquity of mobile devices can be a great way to access and address IT problems 'anytime, anywhere' -- solving not just their issues, but also those of their customers