Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Finance

Right-sizing IT spending in Asian banks


Print article Print article

2014-08-19 07:41:56 - Do Asia-Pacific financial services institutions need to spend more on IT operations to avoid losing market share to non-conventional players?

Jeffrey Bahar, Deputy Chief Executive Officer of Spire Research and Consulting, discussed this view in FST Media.

According to a McKinsey report, organizations that provided financial services in emerging markets – especially in the Asia-Pacific region – needed to spend more on IT operations. The study showed a dip in emerging market IT spending out of total operational costs from 9.4% in 2010 to 8.1% in 2012. On the contrary, IT spending in European banks averaged as high as 19% in 2012.

Bahar commented that IT spending in mature markets cannot be compared to emerging markets. This is because stringent regulations had stoked higher IT spending in mature markets as compared to emerging ones.

The report also suggested that spending on IT infrastructure

improved overall efficiency; which was why banks in mature markets functioned effectively. Bahar remarked that top-tiered banks in emerging markets would take longer to make IT spending decisions, due to the complexity of operations and business processes. But second-tiered banks might take technology adoption decisions more quickly.

Bahar explained that top-tiered banks should ideally form a working committee or division to push through new technology implementations and to better overcome the challenges of integrating new technologies with old processes and legacy systems.





Press Information:
Spire Research and Consulting

Unit 501-502, DLF City Court, DLF Phase III, Sector-24, Gurgaon - 122 002, India

Contact Person:
Nidhi Singh
Senior Executive, Corporate Communications
Phone: 911246565499
email: email

Web: www.spireresearch.com

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com