Financial Services Sector Offers Many Print, Document, and IT Opportunities for Vendors

Not only does the US financial services industry generate lots of prints each year (even post-COVID), it is also a huge sector of the economy that offers opportunities for IT vendors of all stripes to grow their business.

US Finance and Insurance Print Volume by Company Size

Source: US Vertical Market Print, Copy & Scan Volumes

This reality formed the basis of our recently conducted Market Insights: Financial Services study where we:

• Identified key print, document, and IT trends driving technology purchasing and investments in the US, including greater use of artificial intelligence (AI), a high focus on cybersecurity, and expansion of solutions for mobile account access and digital payments
• Surveyed leading document imaging manufacturers on their offerings for US financial services customers
• Evaluated these manufacturers on these offerings

We also determined the manufacturer we believe to be the best equipped to serve the financial services market with its document imaging products and IT services is Konica Minolta—and awarded this company with a Buyers Lab (BLI) 2021-2022 PaceSetter Award in Financial Services.

Here is how Konica Minolta scored in the different categories evaluated for the study, with the dark blue shade shown for most categories representing the highest rating possible.

Konica Minolta Financial Services Scoring

Source: Market Insights: Financial Services

And these are a few specific ways Konica Minolta stood out in the financial services arena:

• A financial services vision shaped by the industry experts it has hired, including former banking and IT security executives serving financial institutions
• Print devices for all work situations, including its bizhub i-Series that recently earned 12 BLI Awards from Keypoint Intelligence, including the 2021 A3 Line of the Year, thanks to the devices’ strong reliability, consistency in performance, and usability
• Ability to deliver a range of computing, remote desktop, and server technology for its customers through All Covered
• Other non-print hardware, including MOBOTIX video security systems and a unique mix of workplace of the future and return-to-office technologies
• Differentiating software offerings, including partnerships with leading e-signature providers like Square 9, Kofax, and DocuSign
• Wide array of IT services, including its ability to serve as a bank’s virtual information security officer

The Market Insights: Financial Services Report also profiles the other study leaders. Overall, these leaders were strongest in the categories of office MFP/print hardware, “other” hardware, and support/professional services, while they were a bit less strong in the areas of vision/industry leadership, security, and software.

Other elements of the report include:

• Executive summary of the study
• Key findings
• Recommendations for document imaging vendors
• Discussion of key trends in the US financial services sector
• Scoring for study leaders
• Areas of potential improvement for participants

The study confirmed that the US financial services market is ideal for document imaging vendors looking to boost revenue and market share; at the same time, it is important that manufacturers and channel partners can serve current needs and stand out with differentiated solutions that look to the future.

Subscribers to our Office CompleteView service can log in to the InfoCenter to view the full report referenced in this blog, along with other Market Insights Reports. If you’re not a subscriber, just send us an email at sales@keypointintelligence.com for more info.