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Emerging Asia Pacific Markets Play Catch-up
Retail Banking Technology (Strategy Focus)
- Publication Date:January 2007
- Product Type: Report
Emerging Asia Pacific Markets Play Catch-up Retail Banking Technology (Strategy Focus)
Business transformation is required; therefore banks in emerging markets need to take action now in all aspects of their business and operational models
- Primarily covers the Asia Pacific retail banking market
- Areas covered include product innovation, channel strategies and investments in back office
The key dynamic in the emerging markets of APAC financial sector at present is the dichotomy between the state-owned banks, which tend to be the largest institutions, and the smaller, newer privately-owned banks.
Although the business strategies for both upper and lower tier retail bankers remain similar, issues such as end-user demand, regulation and varying degrees of competition or market concentration, are driving banks to reconsider strategic business priorities, resulting in a variety of imperatives.
Different financial activities require differing channels to route products and services, but more importantly, distribute information. Information is the key to distribution channel usage by individuals
Reasons to Purchase
- Gain visibility into the dynamics of the Asia Pacific retail banking market
- Gain market insight to assist in your strategic planning and go-to-market strategy
- Macroeconomic changes drive business transformation
- Strategic issues - competition and consolidation
- State-owned incumbents must modernize to compete against their privately-owned counterparts
- Banks are expanding rapidly to capitalize on internal and external market opportunities
- Business drivers for transformation of distribution channels and payments
- Business expansion appetites cause the need for speed
- New channel deployment and greater efficiency in the back-office remain primary areas of attention
- Information flow is critical to channel usage
- In the context of payments, banks should consider these developments along the following lines
- Building a business case for creating excellent back-office processing operations
- Further reading
- Ask the analyst
- List of Figures
- Figure 1: Business drivers for core system investment in major banking emerging markets of APAC
- Figure 2: Channel usage map per financial activity
- Figure 3: Most important IT drivers for investment in banking platform in APAC banking