William Mills Agency Rolls Out 2011 'Bankers as Buyers' Industry Survey

Wireless News
01-18-2011
William Mills Agency Rolls Out 2011 'Bankers as Buyers' Industry Survey
Type: News

William Mills Agency, an independent financial PR and technology public relations firm, released its annual financial services industry research survey, "Bankers as Buyers."

The Company said 2011 marks the eighth year that the agency has compiled the survey, which includes commentary and contributions from industry analysts, bankers, credit union executives and fintech companies.
Featured contributors to this year's "Bankers as Buyers" include: Aite Group; Bradway Research; CCG Catalyst Consulting Group; Celent, Cornerstone Advisors, Crone Consulting, LLC; FinServ Strategies; IDC Financial Insights, Javelin Strategy & Research; Meredith Whitney Advisory Group, LLC; Sawyers & Jacobs, LLC; and TTV Capital, among others.

"As the financial services industry enters this period of mounting stresses (changing technology, regulation, and customer demographics), financial services companies will have to respond to these pressures," said Sean Banks, Principal of TTV Capital and a contributor to this year's survey. "Much of that response will be through innovation and the adoption of new technology in order to achieve process automation, the implementation of new products, and access to new markets. Many unique investment opportunities will emerge from this rapidly evolving market. Entrepreneurs will use this period of sector disruption to fill voids created by traditional approaches and will drive value and growth in the sector as a whole."

Some key findings of this year's "Bankers as Buyers" survey, as described by the Company, include:

-National mortgage loan delinquencies to drop nearly 20 percent (to 4.98 percent) by the end of 2011 (representing a drop from 6.21 percent in 2010);

-Financial institution spending expected to increase by about two percent to just under $51 billion;

-The top 100 financial institutions will invest more than $100 billion/year implementing risk governance frameworks by 2012;

-Regulatory compliance the top technology concern voiced by community bankers, with 60 percent indicating increased IT spending to support compliance;

-Mobile banking outpacing Internet banking, with number of smart phones to outnumber PCs by 2012;

-More than one-third of bankers plan to deliver up to 25 percent of IT services over the cloud by the end of 2012;

-90 percent of financial services firms expect to have dedicated social media budgets by 2012.

"'Change' is the overlying theme for much of this year's 'Bankers as Buyers' survey - how financial institutions will use technology to address regulatory change; the impact of IT and computing industry change; and perhaps most of all, changes in how consumers prefer to interact with their institutions," said Scott Mills, APR, president of William Mills Agency. "As we emerge from the doldrums of the Great Recession, we are seeing financial institutions begin to invest in the technology and infrastructure that will support their business in an evolving market. We are grateful for the collective participation of many of our industry's respected thought leaders and look forward to continuing to bring this important information to the marketplace."

William Mills Agency promotes companies that sell a variety of products or services in a number of highly specialized vertical markets with a focus in the financial industry.

More information:

www.williammills.com

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