Banking App Store Expected to Be Launched by Premium Banks - Gartner
CIOREVIEW >> Banking & Insurance >> NEWS

Banking App Store Expected to Be Launched by Premium Banks - Gartner

CIO Review


FREMONT, CA: The explosive growth of apps is causing significant challenges for the banking industry, says Gartner. Banking CIOs, CMOs and line of business heads face two key challenges. The first is that the visibility of customer banking apps in public stores is decreasing due to the total number of apps available; the second is that visibility of apps on bank websites is decreasing as the number of apps a bank deploys increases. This second issue is exacerbated by the fact that most bank websites do not make it easy for customers to find their apps. Apps are often listed by LOB, making it difficult for a customer to see all the apps offered by the bank, and even if they are listed in one place, the descriptions are often high-level and vague.



"Left unaddressed, these two challenges and others could really have a negative impact on banking revenues and customer experience. Banks can use banking app stores to improve app discovery but only if the added cost and complexity are warranted,” said Kristen Moyer, research vice president, Gartner.

Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.

Gartner advises CIOs, CMOs and LOB heads to focus on three actions:



Evaluate the Potential Need for a Banking App Store



The two most important variables in evaluating the need for a banking app store are the total number of apps and the presence of an application programming interface platform. The more apps a bank has deployed, the more challenging it becomes for users to discover the right app for them. Public Web APIs deployed to third-party developers, customers, partners, employees and others will serve as a multiplier to the number of apps deployed by the bank itself. Three main options emerge from these variables:



App store — a customer-facing app store is deployed for retail, commercial and/or investment banking customers. The app store will include a description of the app, ratings, support and other information. In some cases, the banking app store will directly enable app downloads; however, in other cases, it will link the user to one of the public stores.Banking app stores will often be most appropriate for banks that have deployed 15 to 20 or more apps, or banks that have deployed an API platform.



Website reorganization — a customer-facing app store is not deployed. Rather, the bank website is reorganized to optimize the ability of customers to discover apps and provide feedback. This will often be most appropriate for banks that have deployed from two to 20 apps, but not an API platform.

Standard website — Banks continue with their current practices. Apps are listed by LOB or under mobile banking. This will be most appropriate for banks that have deployed one app.



Given the rapid growth of apps, Gartner believes that CIOs, CMOs and LOB executives should evaluate the need for a bank-specific app store in the 2014-to-2015 time frame. Furthermore, by 2016, Gartner expects to see about 25 percent of large banks deploy banking app stores to improve app discovery, user experience and collaboration. As more banks deploy app stores, it will put competitive pressure on those that do not.



Improve Website Organization to Support App Discovery and User Experience



Banks need to make it easier for customers to find their apps by providing a "get your mobile app here" type of banner through their online banking application.



"Provide a dedicated section on the bank website to list all customer-facing apps. This will be most effective when the total number of apps is less than 10 to 20. For each app, provide complete descriptions and screen shots, and allow social commentary. Each app could then be linked to the associated public app store," said Ms. Moyer.



Continue to Make Banking Apps Available Through the Public Stores



CIOs, CMOs and LOB heads should continue to make banking apps available through the public stores, regardless of whether or not they deploy their own banking app stores. This is because it's important to be where customers are, and many customers will continue to discover apps through the public stores. In addition, for some mobile operating systems, a banking app store would still need to link to the app on iTunes to actually download the app.

More in News

Across the digital landscape, the Zero-code platform industry is experiencing rapid innovation as organizations seek faster and more adaptable ways to build applications without lengthy development cycles. Modern platforms are introducing AI-driven automation, intuitive visual design environments, and stronger integration capabilities that enable teams to create and modify solutions with greater agility. This momentum is helping businesses reduce development bottlenecks while responding quickly to operational demands. As adoption expands, providers are strengthening governance frameworks, security controls, and scalability features, ensuring that simplicity and speed remain aligned with long-term reliability and enterprise requirements. How Do Zero-Code Platforms Benefit Modern Businesses? Zero-code platforms are helping businesses translate ideas into working digital solutions with less complexity. Using visual interfaces, teams can design internal tools, automate routine operations and build customer-facing applications without lengthy development cycles. Inktel Contact Center Solutions applies automation within customer-facing applications and operational workflows, combining digital tools with human expertise to support execution. This flexibility supports faster experimentation and innovation, enabling organizations to refine workflows and respond to changing operational needs with greater confidence. Another major advantage lies in improving collaboration between technical teams and business departments. Operations, marketing, finance, and customer service teams can actively participate in building the tools they rely on every day. This closer alignment reduces communication gaps and ensures that digital solutions reflect real operational needs. As a result, organizations often see stronger productivity, better workflow transparency, and faster problem resolution across departments. Cost efficiency and scalability also make these platforms valuable in modern business environments. By minimizing the need for large development resources, organizations can manage technology investments more effectively while still expanding digital capabilities. Many platforms also support integration with existing enterprise systems, enabling businesses to extend functionality without replacing established infrastructure. With stronger oversight features and adaptable architectures, zero-code platforms are becoming a practical foundation for companies seeking sustainable digital growth. Which Trends Are Shaping the Zero-Code Platform Market? The Zero-code platform market is being shaped by a wave of technological and organizational shifts that are redefining how digital solutions are created and managed. One notable trend is the increasing use of intelligent features that simplify application design while improving decision-making within workflows. Platforms are gradually incorporating advanced analytics, built-in logic engines, and adaptive tools that help organizations design more responsive systems. This evolution is enabling businesses to move beyond simple task automation toward building smarter, data-driven operational environments. Mastery Coding  uses project-based learning and digital tools to develop technology skills through structured, adaptable learning experiences. Another important development is the growing emphasis on enterprise readiness. As adoption expands across larger organizations, platform providers are investing in stronger compliance frameworks, identity management capabilities, and centralized governance tools. These enhancements allow companies to maintain control over applications developed across different departments while ensuring regulatory standards and internal policies are consistently followed. Connectivity across different platforms is also improving, making it easier for organizations to integrate applications with cloud services, existing legacy systems, and wider data environments. The market is also witnessing greater specialization, with platforms evolving to support industry-specific use cases in sectors such as healthcare, finance, retail, and logistics. Tailored templates, pre-configured modules, and sector-focused integrations are helping organizations deploy solutions that address unique operational challenges. As digital transformation accelerates across industries, zero-code platforms are emerging as a flexible foundation for developing adaptable and future-ready technological environments. ...Read more
The increasing cyber risk situation is forcing organizations to re-evaluate vulnerabilities originating from applications, networks, cloud environments and connected devices. Moreover, weak access controls, outdated configurations and gaps in security practices can represent a more favorable attack surface for malicious activity; whereas fragmented security processes may lead to increased difficulty in identifying and containing isolated incidents. Cybersecurity consulting services assist organizations with these concerns through risk assessments, vulnerability reviews, security audits and incident response planning based on the operating environment of the organization. Clear security policies, employee awareness measures and defined response procedures can further strengthen preparedness and support a more coordinated approach to managing cyber threats. How Can Cybersecurity Consulting Services Strengthen Business Security? One of the major results of such cybersecurity consultancy includes increased protection of sensitive information from possible threats. The consultants can help organizations set up appropriate security measures for protecting the confidentiality of client information, financial information, intellectual property and other critical data. This helps minimize the likelihood of expensive data breaches while strengthening trust and confidence among customers, business partners and other stakeholders.  Cybersecurity consulting services can guide businesses to align their security practices with relevant regulatory and sectoral requirements. A better understanding of compliance obligations may also help to mitigate the risk penalties, legal issues and delays that can arise from non-compliance. External expertise can further provide an objective view of security gaps that may be overlooked during internal reviews, helping decision-makers prioritize security investments according to business needs. An improved level of resilience in cybersecurity can help ensure smoother business operations in case of a security incident. A well-prepared organization is able to minimize the disruption, keep its key functions safe and restore itself quickly following a security incident. Availability of specialized knowledge can also alleviate the burden on internal IT teams, especially for those organizations that do not have any specific experts in the area of cybersecurity. What Trends Are Shaping Cybersecurity Consulting Services? The rising trend of adopting cloud native operations is also having an impact on the realm of cybersecurity consulting, especially as organizations manage increasingly distributed digital environments. Zero trust frameworks have become popular as firms begin to shift their paradigm from implicit access controls and begin to adopt continuous verification for users, devices and resources. Consulting engagements are also becoming more focused on identity security, third-party risk and security considerations across software supply chains as organizations rely on a wider network of external platforms and providers. Another key factor is the impact of artificial intelligence, especially as organizations look for ways to speed up their analyses of security events and detect threats in a more proactive manner. Consultants are being engaged for security needs tied to the AI systems themselves, such as data exposure, model misuse and unauthorized access. Demand is also shifting direction towards continuous security monitoring and managed consulting models, allowing organizations to have access to ongoing guidance instead of one-off assessments. These shifts are broadening the role of cybersecurity consulting services as digital operations become more distributed, interconnected and dependent on emerging technologies. ...Read more
Organizations are increasingly looking to upgrade their applications and expand their digital capabilities, making cloud computing essential for improving business performance. Effective management of a cloud environment demands specific skills, constant monitoring, and careful cost control. Managed cloud service providers are crucial in assisting companies to operate efficiently. Current trends show a shift from traditional infrastructure management to integrated services that emphasize security, automation, optimization, and achieving positive business outcomes. What Are the Best Practices for Hybrid and Multicloud Management? Businesses are also increasingly embracing the hybrid and multicloud approach in addressing application needs, compliance issues, resiliency, and flexibility. As such, there is an increased need for organizations to embrace providers that will handle workloads in public cloud, private cloud, and multicloud through unified processes. Rather than having separate approaches for each cloud environment, organizations have been developing capabilities for monitoring, governance, identity management, and performance management on a centralized basis. There has also been significant investment in automation in such areas as provisioning, configuration management, patching, scaling of workloads, and incident response. AI and machine learning continue to play a role in the management of cloud services. Intelligent monitoring may be able to detect odd behavior, predict future capacity needs, and assist with problem-solving efforts. Predictive analysis can also help service providers detect any possible future problems that would negatively impact performance. With the advancement of such technology, companies will be provided with more flexible cloud services without building their own competencies. How Are Providers Improving Cloud Cost And Security? Optimization of costs in cloud computing has emerged as a key corporate concern as more value needs to be derived from technology investments. In response, managed cloud service providers have begun adopting approaches that involve resource analysis, identification of unused capacity, configuration recommendations, and efficient workload management. The FinOps framework has also begun to gain relevance as it involves collaborative efforts from finance, technology, and business stakeholders to align cloud expenses with tangible results. This would help corporations understand their resource consumption and make better technology investments. Security is still closely tied to the emphasis on efficiency. There are growing expectations for managed service providers to incorporate such security capabilities as identity and access management, monitoring, vulnerability management, data protection, and compliance support into daily cloud activities. The traditional approach of viewing security as a distinct function is now being replaced by integrating security controls into the infrastructure and application environment. Other trends include the shift towards an outcome-oriented approach to delivering services. Companies are not only assessing the availability of their infrastructure but have shifted their assessment towards application performance, user experience, resiliency, scalability, and cost effectiveness. Service level agreements are now geared more towards operational outcomes, while dashboarding and analysis provide visibility of performance and utilization. ...Read more
A software engineering and AI analytics purchase can fail long before model accuracy becomes a concern. The bigger challenge is often the handoff between existing infrastructure and new analytics, especially when camera networks and edge devices were never designed to share context. Replacing everything may simplify architecture on paper, but it can strain capital requirements and stretch deployment timelines. Buyers need to know whether a platform can work across existing technology boundaries without turning modernization into a wholesale infrastructure project.  Integration depth is therefore more revealing than the number of AI features on a product sheet. A useful platform should accept heterogeneous inputs and expose their data through a common control layer without forcing every piece of existing hardware to conform to one technical standard. It should also preserve the usefulness of legacy assets while making their information accessible to newer analytics. That matters in distributed environments where hardware replacement may be slow or economically unjustified. The real question is whether modernization can proceed around installed infrastructure rather than requiring a clean slate.  Real-time analytics creates an attention problem of its own. Video feeds and sensor events can overwhelm staff when every detection is treated as equally important. Buyers should examine how a platform separates routine activity from events that merit human review, and then look at how quickly those events reach the people responsible for validation. The difference between raw monitoring and useful analytics lies in this filtering step. A system that produces more alerts without improving prioritization merely transfers workload from observation to triage.  Architecture becomes more consequential as data volumes rise. Sending every high-definition stream to a centralized cloud environment can create avoidable bandwidth costs and response delays. Edge processing can reduce that burden when analytics are performed close to the source and only selected information moves upstream. Yet edge deployment introduces management demands. Devices and application services still need a coherent way to exchange information and support later investigation. Buyers should also examine how much infrastructure complexity is added when analytics move closer to the source.  “ CFBD ’s hybrid architecture connects legacy environments to newer computing infrastructure through hyperconvergence and virtualization.” Searchability deserves equal importance. Once video or sensor data has been transformed into structured metadata, teams should be able to move from live detection to later investigation without manually reviewing hours of footage. Useful systems retain descriptive attributes and behavioral context in forms that can be queried quickly. The buying question is whether that context survives across live monitoring and retrospective analysis rather than being trapped in separate workflows. Fast retrieval matters because delayed investigation can erase much of the advantage gained from real-time detection.  CFBD merits consideration for buyers facing this mix of integration pressure and analytics workload. Its AZOR Ecosystem, a real-time data orchestration platform, centralizes video and sensor information. AZOR Panel, a centralized monitoring interface, receives AI-filtered events for human validation. AZOR Analytics, a video analytics component, supports real-time and forensic analysis, while edge gateways can process video near the source and pass lighter event data upstream. Its hybrid architecture connects legacy environments to newer computing infrastructure through hyperconvergence and virtualization. The fit is strongest where replacement costs and operator overload are material constraints. For organizations that need AI analytics without discarding usable infrastructure, CFBD is a practical choice.  ...Read more