The availability of tools such as Java, microservices, and APIs can help modernize retail banks and improve offerings against emerging competitors.

The retail banking industry faces intensified competition as new competitors gain traction with innovative products and services that use advanced hardware and software solutions to meet the evolving needs of customers. Many traditional banks struggle to adopt these same innovations due to challenges with outdated mainframe systems and software development methodologies. These challenges have led traditional retail banks to re-evaluate their mainframe investments. For IT teams working to address these challenges and deliver modernized offerings in the retail banking space, global IT research and advisory firm Info-Tech Research Group has released new research. Mainframe Modernization for Retail Banking is a comprehensive blueprint designed to help banks navigate legacy system complexities and embrace agility and innovation.

As outlined in the new industry resource, banks are facing mounting difficulties and rising costs in maintaining mainframe hardware and software. Specifically, the support for legacy mainframe hardware has become increasingly expensive. The banking industry is also grappling with the accelerated pace of transactions, such as instant payments and the real-time systems that have replaced traditional end-of-day settlements. To navigate this transition, banks require a complete overhaul of their software stack and a corresponding shift in software tools and methodologies.

The firm’s research suggests that banks should consider modernizing their mainframe systems to enhance their hardware and software solutions. Mainframes offer unparalleled capabilities in transaction processing, large-scale data handling, and security, which are crucial for building a modernized banking infrastructure. Info-Tech’s blueprint highlights the following three organizational states commonly observed in banking institutions and offers an evolution-based approach to mainframe investment, modernization, and monolith disassembly:

1. Legacy State: This state refers to the existing mainframe environment that lacks modern capabilities required to support contemporary retail banking. It comprises software monolith, hardware, and database components.
2. Transitional State: This state is essential for rearchitecting monolithic systems, considering the interdependencies involved. The mainframe environment in this state includes software monolith, hardware, and database elements.
3. Future State: This state represents an evolution-based approach to mainframe investment, focusing on modernization and the disassembly of monolithic systems.

Info-Tech’s research further explains the advantages of modern mainframes in facilitating faster and easier development processes. These modern mainframes support widely used development languages such as Java, which can generate executable code for these systems. The firm advises that the availability of such development tools, along with microservice and API enablement, can significantly simplify mainframe operations that would otherwise be complex and time-consuming.

Info-Tech Research Group is one of the world’s leading information technology research and advisory firms, proudly serving over 30,000 IT professionals. The company produces unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. For 25 years, Info-Tech has partnered closely with IT teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

The firm’s latest research-backed blueprint explains how nonprofits can bolster their defenses against data breaches by proactively assessing existing privacy and security gaps to implement improvements.

The modern digital landscape has significantly amplified the potential for sensitive data leaks and theft. Data breaches at nonprofit organizations in particular can result in heightened risks and as they compromise the wellbeing of their members, donors, and users, causing disruptions to nonprofits’ day-to-day operations. These consequences extend beyond finances and include operational disruptions, service delays, and potential penalties. To aid nonprofit organizations in safeguarding their stakeholders’ information, Info-Tech Research Group, a leading global IT research and advisory firm, has released its latest industry blueprint, Strengthen Your Nonprofit’s Privacy and Security Operations.

Info-Tech’s resource explains that a nonprofit organization’s fiduciary obligation and mission promise to prioritize the stakeholders’ interests must include its obligation to protect IT assets that hold their personal data through privacy and cybersecurity protocols. However, nonprofits face several obstacles in combating data breaches, including prioritizing mission-focused budgets over operational ones, a lack of defined cybersecurity and privacy foundations, and an inaccurate reliance on cyber insurance as a sole solution.

“Nonprofits are starting to pay attention to data security, yet they loathe to make changes that mitigate cyber risks due to lack of capital and human resources, which remain major obstacles to the path of maturity and consistency,” explains Pagtalunan.

According to Info-Tech’s research, the foremost concern for nonprofits is the risk of information leakage, which affects the entire organization and is not limited to IT alone. There are several processes where a nonprofit may be exposed to the risk of a data leak, including data collection, processing donations or event registrations, or transferring data to the cloud. The impacted data can include sensitive, personally identifiable information of donors, members, and users. The potential impacts can include the following:

• Exposed confidential or sensitive information
• Inaccessible data and a compromised environment
• Reputational damage and the loss of support and revenue
• Legal or regulatory fines and investigations
• Organization-wide interruption

To combat data breaches, Info-Tech advises nonprofit organizations adopt a comprehensive approach, which includes effectively communicating the importance of robust cybersecurity and privacy programs to key stakeholders using language that aligns with the organization’s goals. Additionally, evaluating the intersection of privacy and security measures will help in understanding how to mitigate the risk of data leaks or loss of donor or member information. Taking the crucial first step of assessing existing privacy and security gaps enables nonprofits to proactively address vulnerabilities and enhance their overall defense against data breaches.

Managing security operations is an ongoing and continuous responsibility for organizations. Despite obstacles like the cybersecurity skills gap and limited IT resources, allocating appropriate oversight and supervision is crucial to ensure effective security and privacy operations. In cases where assembling an in-house IT team is not feasible, Info-Tech recommends outsourcing as the ideal option.

Info-Tech Research Group is one of the world’s leading information technology research and advisory firms, proudly serving over 30,000 IT professionals. The company produces unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. For 25 years, Info-Tech has partnered closely with IT teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

The U.S. electric bus market value is predicted to surge from an estimated $490.6 million in 2021 to $1,924.8 million by 2026, demonstrating a CAGR of 31.4% from 2021 to 2026. According to the market research report published by P&S Intelligence. The major factors fueling the expansion of the market are the implementation of strict regulatory measures for reducing emissions, provision of federal funding for augmenting the deployment of zero-emission buses, declining battery costs, improving operational efficiencies, and various long-term economic benefits of electric buses.

The increasing concerns of environmental agencies and local governments over the deteriorating environment, owing to the rising urban vehicular emissions, are resulting in the enactment of strict emission control regulations in the U.S. Presently, diesel-powered buses are a crucial part of the country’s public transportation system, but they are major emitters of toxic greenhouse gases. Thus, the enactment of strict environmental regulations is fueling the adoption of zero- and low-emission transport systems, which is, in turn, propelling the growth of the U.S. electric bus market.

Key Findings of U.S. Electric Bus Market Report

• The plunging costs of lithium-ion (Li-ion) batteries are also driving the progress of the market. As per industry experts, the average cost of Li-ion battery cells for large orders fell from nearly $1,000 per kilowatt-hour (kWh) in 2010 to around $310/kWh in 2019.
• The battery electric bus (BEB) category held the largest share, under the vehicle type segment, in the past, as BEBs are the cleanest of all such automobiles.
• The inductive charging category, within the charging type segment, is predicted to demonstrate the fastest growth in the coming years. This is credited to the ability of this technology to rapidly charge electric buses.
• The COVID-19 pandemic caused huge disruptions in the U.S. electric bus market, as the lockdowns imposed by the federal and state governments affected the import of electronic and electrical components from China and hampered automotive production.
• The launch of projects and programs such as the American Fuel Cell Bus (AFCB) Project and the National Fuel Cell Bus Program (NFCBP) by the U.S. government is a major trend in the industry.
• The market is consolidated in nature, and the players are actively focusing on geographical expansions and partnerships to strengthen their position.

BYD and Levo Mobility, which is a joint venture of Stonepeak Partners L.P., Evolve Transition Infrastructure LP, and Nuvve Holding Corp., announced a partnership in May 2021. Under it, Levo will buy up to 5,000 medium- and heavy-duty, vehicle-to-grid (V2G)-enabled battery electric vehicles (BEVs) over a period of five years.

Some of the major players operating in the U.S. electric bus market are Proterra Inc., BYD Motors Inc., NFI Group Inc., GreenPower Motor Company Inc., Blue Bird Corporation, GILLIG LLC, Daimler AG, REV Group Inc., The Lion Electric Co., and AB Volvo.

U.S. Electric Bus Market Size Segmentation Analysis

U.S. Electric Bus Market Based on Vehicle Type

• Battery Electric Bus (BEB)
• Plug-in Hybrid Electric Bus (PHEB)
• Hybrid Electric Bus (HEB)

U.S. Electric Bus Market Based on Length

• >40 Feet
• <40 Feet

U.S. Electric Bus Market Based on Battery

• Lithium-Ion (Li-ion)
• Nickel-Metal Hydride (NiMH)
• Others

U.S. Electric Bus Market Based on Charging Type

• Plug-In
• Pantograph
• Inductive