Core Insights - Celent's Retail Banking Dimensions report for Europe aims to understand the technology plans, pressures, and priorities within the banking industry [1] Group 1: Industry Challenges and Priorities - 54% of banks in Europe find it more challenging to win and retain customers compared to 12 months ago [2] - Product development is a key focus, with 50% of banks identifying investment in enhanced products as a top driver of their technology strategy [2] - The largest product-level priority for 2023 is digital account opening, prioritized by 38% of banks [2] Group 2: Technology Investment Trends - IT spending among banks is projected to grow by an average of 5.0% this year, although economic disruptions may affect this growth [2] - AI technologies represent the largest area of technology investment for 29% of banks, supporting various use cases across operations [2] - 64% of banks plan to launch customer-facing services utilizing GenAI by 2025, indicating a significant push towards data utilization [2]