Authors: Michael Araneta, Li-May Chew, Ho Sui-Jon, Michael Yeo

Business Strategy
February, 2013  -  Doc # FIN239561
Number of Pages: 26
Number of Figures: 2

This IDC Financial Insights report presents its annual list of top 10 strategic IT initiatives for banks in the Asia/Pacific region. Banks are expected to take a breather from the extreme focus on risk management and compliance that so preoccupied their strategic agenda since 2008. Many institutions can now think beyond risk management because of various reasons, ranging from risk projects that are finally in production to an easing of compliance requirements. In 2013, IT leaders have an opportunity to regroup and ask, "What else should IT be doing for the organization?"

Michael Araneta, research director for IDC Financial Insights Asia/Pacific notes, "This year's top initiative, IT optimization, refers to how banks now need to undertake a performance review and get clarity on their technology assets: to see how they are performing, map out ways of integrating more effectively, and decide on areas where new investments are most due."

Li-May Chew, associate director for IDC Financial Insights Asia/Pacific comments, "Proving that risk is still an all-important consideration in 2013, IT executives are compelled to assess the new types of risks brought about by the implementation and application of disruptive 3rd platform technologies like social business, cloud, Big Data, and mobile."

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