This IDC Financial Insights report discusses our top 10 predictions for Asia/Pacific banking. In the upcoming year, banks are expected to align their strategies to attempts by Asia/Pacific economies to further decouple from troubled Western economies and search for sources of growth that originate from the region. In Asia/Pacific, the search for new markets, new sources of growth, and new business models will be the overarching theme.
Michael Araneta, consulting and research director at IDC Financial Insights Asia/Pacific, remarks that although the broader area of risk management and compliance will still be the top area of focus for more institutions, new themes have emerged to drive IT investments in the space. Araneta remarks, "We note regulatory clarity and regulatory convergence that have made regulatory positions around new areas such as cloud computing, social media, and Big Data become more clearly articulated." IDC Financial Insights also points to a slew of "Faster Everything" programs that seek to use speed and real-time capabilities as competitive advantages to win and retain crucial customer segments. Araneta continues, "The 'Faster Everything' theme will also impose itself on the IT organization. IT leaders will see more key performance indicators concerning speed: faster deployment times, shorter development cycles, and faster IT help desk benchmarks."
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