Recovery in a Different Way:
A New Cycle of Tech Investments
in Financial Services

ANZ | June 22, 2021




Overview


Recovery in a Different Way: A New Cycle of Tech Investments in Australia and New Zealand Financial Services

 

It is time to talk about recovery! IDC Financial Insights brings to Australia and New Zealand our most recent work on the frameworks that banks, insurers, and capital market firms are using to find success in 2021 and beyond. The research highlights that there are several areas of investments that are heating up: cloud-based core system migration, the reinvigorated Open Banking agenda, customer-centric business processes, continuous innovation principles, and the trifecta of privacy-identity-trust.

This shows us that financial institutions are set to go beyond crisis recovery, to attain new capabilities never seen before in the industry. These new business and tech capabilities point to how financial services can be brought to a whole new competitive playing field.

 

Key topics of discussion

 

Path to Truly Digital Core Systems: Cloud, API enablement, and Microservices

High-Impact Business Processes in 2021 and Beyond

The growing prevalence of DevOps

The New Agenda for Open Banking in 2021

Buy versus Build: Are Banks Building More?

Future of Work

Time Zone

Kindly note, the timings displayed in the agenda below are in AEST.

IDC Australia Conference: Financial Insights Agenda

Time Event & Speakers
10:00

[Opening Keynote] How a Crisis Changed us for Good

Michael Araneta
Associate Vice President, Head of Research & Consulting, IDC Financial Insights Asia/Pacific

IDC Financial Insights Head of Research, Michael Araneta, presents the biggest themes driving the new cycle of tech investments in financial institutions in Australia and New Zealand, based on IDC research findings. These drivers of investments are organised into revamping legacy applications and processes, rebuilding internal capabilities to re-accelerate digital transformation, and reinvestment into capabilities to sense and respond to the new realities of our times.

We see the return of trends sidelined because of the challenges of the pandemic – all taking a new spin: everything from Open Banking and Open APIs, data-to-digital, sustainability and ESG compliance, and risk and finance integration – we see massive reinvestment in these great programs to "transform," making up for lost time.

10:10

[Panel Discussion] Intelligent Banking in 2021: Is it imperative or still a choice?

Sneha Kapoor
Research Manager, IDC Financial Insights Asia/Pacific
Mark Bernhardi
General Manager, Asia Pacific, nCino
Bart Jesman
Director, Product Management, nCino

Intelligent Banking is no longer an option – it is now imperative. The new realities of 2021 coupled with the steady acceleration of digital transformation initiatives have amplified the demand for personalized customer experience, new levels of employee efficiencies, strong regulatory compliance, and innovative business capabilities. There are many ways to get there, but the financial institutions that have succeeded so far are those that are leveraging end-to-end digital banking platforms that are agile, intelligent, and scalable.

10:40

[Fireside Chat] Debunking Myths About Data Science for Financial Services

Michael Araneta
Associate Vice President, Head of Research & Consulting, IDC Financial Insights Asia/Pacific
Dr Catherine Lopes
Member of the Board of Advisors, AI, Data & Analytics + Intelligent Automation Networks

What’s one thing that people think is true about data science that you have found to be inaccurate? In this session, we will discuss the intersection of analytics, data science and AI/ML and clarify the misconceptions in this intersection, which includes the go-to phrase of "data is the new oil”. With these myths debunked, we will look into the realities surrounding data science and the future capabilities emerging from data science that are relevant for financial institutions in A/NZ and elsewhere.

11:00

[Panel Discussion] How to Deliver So Much Change in Not Enough Time

Steve Shipley
Adjunct Chief Information Officer, IDC Financial Insights Asia/Pacific
Ajit Melarkode
VP, Asia Pacific & Japan, Boomi
Sheena Peeters
General Manager Technology, HESTA

One thing 2020 and the pandemic has taught us is that we can do much more and doing it faster and better than ever before. A new cycle of technology investment in A/NZ FSIs is heating up to ensure delivering massive change is successfully achieved. Top performing banks and insurers have exceeded and reset performance targets and along with them management expectations to do even more. With a laser focus, combined with being rightly skilled and technically ready, FSIs are now delivering in a month what use to take several before. The need, ability, and expectations delivering change have changed forever. Join this session with Dell Boomi to learn how FSIs are doing more, more quickly, with less.

11:30

[Panel Discussion] The Privacy-Identity-Trust Trifecta

Steve Shipley
Adjunct Chief Information Officer, IDC Financial Insights Asia/Pacific
Cornelius Mare
CISO, Fortinet Australia

IDC is seeing a significantly increased investment in Privacy, Security and Trust. 2020 was the year of working from home, providing massive challenges identifying and responding to a new set of security challenges. Some FSIs quickly and successfully made the transition while others did not. Banks and insurers who were successful were the ones where security was an enabler, not a constraint.

But with everything becoming digital, FSIs need to go beyond security and becoming trustworthy. Becoming fully trustworthy means that clients expect their banks and insurers to protect their privacy and identity and provide them consensus for using their data which leads to trust in an ethical and transparent manner. This session with Fortinet explores the challenges FSIs face, where to target investments, and what to do to become trustworthy in the eyes and minds of their customers.

11:50

Closing Remarks

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