Innovation in application services is an abstract concept. Due to multiplicity of buzzwords, methodologies, and technology platforms, every other enterprise or service provider seems to run with their own definition. Some terms that define innovation in application services these days are:
Cognitive
Agile
DevOps
As-a-service
While innovation is indeed contextual to the needs of the enterprises, there are some basic constructs that help make innovation cultural and continuous, and not just episodic or ad hoc. These are the constructs that make truly innovative organizations first among equals. Everest Group delved into this subject of innovation in application services by assessing perceptions of over 100 senior enterprise executives in North America. The research delved into senior executive perceptions of not only innovation tenets but also service providers, who claim to be innovative. This research paper will act as a guide for those senior executives who want to drive innovation in their organizations or for their clients.
Stricter regulatory norms, the race to provide personalized banking experience, rise of digital banking, the pressure to contain costs, and the threat from the rise of banking ubers drove investments in banking application services market in 2015.…
