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Marketing Strategies Are Key to New Technology Deployment in the Banking Sector Says Frost & Sullivan - Polish banking the successful case for adopting new ICT solutions
Marketing Strategies Are Key to New Technology Deployment in the Banking Sector Says Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2013/06/26 - Polish banking the successful case for adopting new ICT solutions.

   
 
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While Poland seems to lag behind its Western European counterparts in terms of existing banking infrastructure and the use of banking services, the country's financial institutions stand out in the region for their eagerness to adapt new technologies. Marketing programmes and extensive education of consumers and merchants have successfully supported wide adoption of contactless technologies, as well as online and mobile banking services.

"According to Frost & Sullivan's recent study on the ICT market in the European banking sector, Polish banks' spending on software and IT services will grow at higher rates than that of the German, French or UK banking sectors," says Frost & Sullivan Senior Industry Analyst, Mario Fernandez.

Taking advantage of its still-developing infrastructure, Poland is effectively introducing new technologies. Frost & Sullivan estimates that in 2012 the country's penetration of contactless terminals and contactless cards were 30 and 42 percent, respectively one of the highest penetration rates of contactless technologies both in Europe and globally.

"Marketing programmes have played a fundamental role in the successful rollout of contactless technologies. As a result, Polish consumers actually use contactless cards, unlike consumers in other countries with similar levels of contactless technology penetration," notes Mr. Fernandez.

Poland has also been the scene of a successful delivery of banking services through online and mobile channels. After lagging behind Western European banks in the early 2000s, Polish banks quickly caught up. A solid strategy for online and mobile banking services has been the cornerstone of this success.

However, in the country where contactless payments are widely deployed, it is surprising to see that banks do not see NFC, a contactless technology, as the next logical step for mobile payments. Although some of the country's banks and mobile operators have partnered and commercially launched NFC-based mobile payments, the technology seems to have lost momentum among bankers.

"With a marketing strategy in place, banks will more likely identify potential customers' pain points when using a new technology and can take measures to eliminate these pain points as is the case of contactless payments, and online and mobile banking in Poland," summarises Mr. Fernandez. "In some cases, a bank could also consider alternative technologies, for instance going for cloud-based mobile payments instead of NFC-based ones, or vice versa."

If you would like to learn more about the study, ICT Market in European Banking Sector, please contact Joanna Lewandowska, Corporate Communications, at joanna.lewandowska[.]frost.com. Please include your full contact details.

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Marketing Strategies Are Key to New Technology Deployment in the Banking Sector Says Frost & Sullivan

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Publisher Contact: Joanna Lewandowska - Frost.com 
+48 22 481 62 20 joanna.lewandowska[.]frost.com
 
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