Abstract
This Financial Insights report discusses findings of a survey conducted at the fourth annual FinTech Asia Conference. This report is based on responses of 72 technology decision makers from eight countries in the Asia/Pacific region, and it examines banks' IT spending plans as well as the specific business and technology areas from which spending growth is anticipated.
Michael Araneta, senior research manager for Financial Insights Asia/Pacific IT Benchmarking states, "IT decision makers acknowledge the looming threats of a global economic slowdown. Just as quickly, however, these executives state that opportunities still abound in the Asia/Pacific region. IT spending growth projections have not been dampened." Araneta continues, "IT decision makers have been noted to be more discerning, and banks will be looking at metrics around availability, utilization, and performance of IT investments. IT governance has been thrust to the forefront."
Li-May Chew, senior research manager for Financial Insights Asia/Pacific Banking comments, "Despite rosy growth figures, there are still concerns about credit quality, especially in the more vulnerable developing economies. Furthermore, the lessons from the U.S. subprime crisis have underscored the need to ascertain that a true risk management culture has taken root."
Table of Contents
- Table of Contents
- Financial Insights Opinion
- In This Report
- Table: FinTech Asia Executive Survey Respondents by Country
- Situation Overview
- Strategic Imperatives
- Figure: Key Strategic Imperatives for Banks in Asia, 2006-2008
- Operational Efficiency
- Improving Customer Experience
- Better Use of Technology
- Launching Innovative Products
- Risk Management
- Different Markets, Different Priorities
- Singapore
- Figure: Key Strategic Imperatives for Banks in Singapore in the Next 12 Months
- Indonesia
- Figure: Key Strategic Imperatives for Banks in Indonesia in the Next 12 Months
- Malaysia
- Figure: Key Strategic Imperatives for Banks in Malaysia in the Next 12 Months
- The Philippines
- Figure: Key Strategic Imperatives for Banks in the Philippines in the Next 12 Months
- Thailand
- Figure: Key Strategic Imperatives for Banks in Thailand in the Next 12 Months
- Vietnam
- Figure: Key Strategic Imperatives for Banks in Vietnam in the Next 12 Months
- India
- Figure: Key Strategic Imperatives for Banks in India in the Next 12 Months
- Australia
- Figure: Key Strategic Imperatives for Banks in Australia in the Next 12 Months
- Future Outlook
- IT Spending Projections and Priorities
- Figure: Asian Banks' Plans to Increase IT Spending in the Next 12 Months
- Figure: Asian Banks' Estimated IT Spending Growth by Country, 2006-2008
- Figure: Anticipated High-Cost Projects Among Asia/Pacific Banks in the Next 12 Months
- Figure: Urgent Projects in Asia/Pacific Banks in the Next 12 Months
- A Note on Risk Management
- Figure: Focus Areas for Addressing Risk Management
- Figure: Main Risk Management Implementation Challenges for Organizations
- Sidenote on IT Security
- Figure: Focus Areas for Security Management in the Next 6-12 Months
- Essential Guidance
- Actions for Financial Institutions
- Actions for Vendors
- Learn More
- Related Research
- Synopsis
