Sep 9, 2010, 4:00pm

Research and Markets (http://www.researchandmarkets.com/research/d196d7/retail_banking_tec) has announced the addition of the "Retail Banking Technology Spending Strategies in Australia and New Zealand (Strategic Focus)" report to their offering.

Based on Ovum's Retail Banking Technology Enterprise Insights study, this report looks at post financial crisis industry and business trends for the Australasia banking sector (focusing on the Australian and New Zealand markets) for 2010, exploring how regulatory and environmental changes will affect IT spending and priorities over the next couple of years.

Scope:

• Coverage of the Australian and New Zealand banking markets, with focus on strategies of the top-four banking groups
• Analysis of international and domestic regulatory changes and impact on business and IT strategies

Highlights of this title:

To support revenue growth objectives, improving the effectiveness and efficiency of product development is a top priority for Australasian banks. Banks are looking for the ability to innovate quickly and have high flexibility around product design, to allow products to be more responsive to competitive conditions and client demands.

While new Basel policies are likely to have a significant business impact, as will regulatory pressure to reduce banking fees and charges, from an IT perspective the key regulatory and compliance drivers for investment will actually come from need to tackle financial crime and manage risk.

Key reasons to purchase this title:

• Unique primary research data from interviews with IT executives in leading Australasian banking institutions
• Analysis of business drivers and IT background to Australasian banking IT priorities for 2010
• Coverage of IT strategies around compliance, core transformation and online platforms

Key Topics Covered:

• Catalyst
• Ovum view
• Key messages
• Consumer protection regulation and new Basel requirements will impede revenue growth potential
• Enabling faster product development is the top investment priority, driving core transformation
• Fraud, anti-money laundering and operational risk are driving IT investment on the compliance side
• Australasian Banks have Moved from Crisis to Transformation Mode
• Financial performance has rebounded, although regulatory pressure is increasing
• Australasian banking profitability has been restored moving into 2010
• Regulatory pressure around stability and consumer protection will impede revenue growth
• IT spending has shifted from a freeze mentality to supporting transformation
• The initial impact of the financial crisis on IT was stronger in Australasia than in the most affected regions
• However, Australasian banks are making strategic IT investments in 2010
• Core Transformation, Compliance and Online Banking are Key IT Spending Areas for 2010
• Enabling faster product development is the top investment priority, albeit through diverse core transformation strategies
• Time-to-market and centralized customer information are top drivers of core transformation
• Core strategies remain highly institution-specific, rather than following an 'Australian' trend
• Fraud, AML and operational risk are driving IT investment on the compliance side
• Australian payment fraud is low by international standards, but has been on an upward trajectory
• Tackling financial crime remains an ongoing investment area, with the focus on enabling investigations
• Operational risk focus is on quantitative risk measurement and modeling
• Online banking renewal will focus on user experience, self-service and sales
• Renewal of CBA's NetBank online platform in 2009 has created a competitive impetus for the sector
• The focus of renewal is on enhancing navigation, application submission and service breadth
• Recommendations for enterprises
• The success of core transformation depends on process optimization and standardization
• Institutions need to look for synergies across compliance initiatives, such as with AML and fraud
• Recommendations for vendors
• Non-core vendors should position offerings to help banks unlock the value of core investments
• Opportunities remain in channels, particularly direct ones, despite core transformation projects

For more information visit http://www.researchandmarkets.com/research/d196d7/retail_banking_tec

Source: Datamonitor