Abstract

This IDC FutureScape presents IDC Financial Insights' view of the top 10 predictions for financial services (including banks, insurance, and payments) as they apply to the Asia/Pacific (excluding Japan) (APEJ) region. Although the world struggles to emerge out of the COVID-19 pandemic, banks, insurers, and capital market firms are set to invest in technology capability to reboot their business. Global predictions are contextualized for the Asia/Pacific region, especially considering the specific trends and developments in the region's financial services sector.

Michael Araneta, AVP, IDC Financial Insights Asia/Pacific states, "A recovery is afoot, putting pro-growth themes, such as customer centricity, cross-selling and up-selling, and customer loyalty, squarely back on the agenda. Many FSIs can attest to that through the sheer growth of digital transactions, but also how the nature of interactions in digital channels is changing. The upsurge of digital, however, has introduced stresses to the transaction systems of many organizations. The seams are showing, and metrics around uptime, security, and scalability have come into focus, even for the supposedly most technologically savvy financial institutions."

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