Ranking coincides with Teradata announcing its Bank of the Future ‘learning experience’ as part of its partnership with Saïd Business School, Oxford University
Teradata (NYSE: TDC), the cloud data analytics platform company, today announced that they have ranked #34 on the 2020 IDC FinTech Rankings. The 17th annual vendor ranking represents the top global providers of financial technology. Teradata’s ranking places it among the leading companies that supply the technological backbone of the financial services industry, one in which IDC Financial Insights forecasts worldwide spending on IT across the globe to exceed $577 billion (USD) by 2024.
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Last year U.S. banks spent $67 billion on new technology but with revenues growing in the low single-digits and return on assets below the cost of capital, return on these investments have often disappointed. This disconnect clearly demonstrates that there is more to becoming a data business. Teradata’s Vantage platform, the company’s flagship product that delivers analytics, data lakes and data warehouses in a unified platform, enables financial institutions to tackle challenges head-on by leveraging their extensive data resources to create new value, either as direct revenue or through enhanced customer experience.
“At Teradata, we strongly believe that the future of financial services is built on data-driven capabilities,” said Martyn Etherington, Chief Marketing Officer at Teradata. “Particularly in today’s rapidly changing climate, financial institutions recognize the need to transform themselves to become more efficient, trusted, analytically agile, and digital—and this is all underpinned by improved analytical capabilities. The IDC FinTech Rankings recognize our commitment to these organizations, and we will continue to look for new ways to help these institutions navigate uncertainty and create new opportunities for growth.”
Bank of the Future Learning Experience
This ranking coincides with Teradata unveiling a comprehensive virtual learning experience, Bank of the Future. The program – as part of Teradata’s ongoing partnership with Saïd Business School, Oxford University – will provide senior executives and decision makers with insights from leading Oxford academics on how they can develop innovative strategies to successfully lead their organizations into the future.
“We are pleased to partner with Teradata on the Bank of the Future programme,” said Andrew Stephen, Associate Dean of Research, L’Oréal Professor of Marketing and Director of the Oxford Future of Marketing Initiative at Saïd Business School, University of Oxford. “Even established players in the banking sector must embrace a digitally focused future to move beyond seeking only greater efficiency and instead find ways to accelerate transformation and find new models for growth.”
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Bank of the Future takes place via four 2-hour sessions, over a three-week period in November, with leading Oxford academics sharing their insights and then connecting with senior financial market executives to have honest, relevant discussion in facilitated industry chat rooms. Attendees will come away with fresh perspective on how to make disruption a growth opportunity and better respond to consumer behavior and technology change.
Session 1 – Monday, Nov. 2:
- Customers in a Digital-First, AI Enabled World
- Led by Marketing Professors Andrew Stephen and Felipe Thomaz
Session 2 – Tuesday, Nov. 10:
- Platforms, Innovation and New Technologies in Banking
- Led by Professors Andrew Stephen and Pinar Ozcan
Session 3 – Thursday, Nov. 12:
- Strategy Alignment
- Led by Professors Andrew Stephen and Jonathan Trevor
Session 4 – Wednesday, Nov. 18:
- Beyond the Bank of the Future
- Led by Professor Andrew Stephen and including Professor Rachel Botsman
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