Cost of In-Memory Technology Cited as Biggest Inhibitor for Organizations, According to IDC Financial Insights
LONDON, October 15, 2012 — A recent report by IDC Financial Insights finds that among challenges associated with in-memory computing, the cost of the technology and integrating multiple sources and types of data were highlighted as the biggest inhibitors for financial institutions. More insights are revealed in the report, which also analyzes vendors that are active in in-memory computing and analytics, including SAP, Oracle, SAS, IBM, and Quartet FS.
IDC Financial Insights highlights that banks will make a progressive transition to in-memory computing and analytics as opposed to performing an archetypal "big bang" transformation. The first step is to raise awareness among institutions, but it is encouraging to note that in-memory computing has already begun to gain traction in the banking industry, particularly among top-tier institutions engaged in investment banking and capital markets activities.
The report also acknowledges two vital activities that need to happen in conjunction with the implementation and ongoing use of in-memory analytics by financial institutions:
"In-memory analytics represents a genuine paradigm shift in the way that financial institutions can interrogate and understand their business information," said Alex Kwiatkowski, research manager, EMEA Banking, IDC Financial Insights. "Adopting in-memory technologies will substantially improve operational performance in key areas such as risk management and fraud reduction. Given the current — and likely future — state of the global financial services sectors, this is one technology that banks cannot afford to ignore."
The report, In-Memory Computing and Its Impact on Banking (IDC Financial Insights #FIBA56U, September 2012), explores the concept of in-memory computing in greater detail, while identifying key operational and technological implications and impacts, along with an acknowledgement of vendors playing a prominent role in these developments.
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About IDC Financial Insights
IDC Financial Insights assists financial service businesses and IT leaders, as well as the suppliers that serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the banking, insurance, and securities and investments industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world's leading technology, media, research, and events company. For more information, please visit www.idc-fi.com, email email@example.com, or call 508-620-5533. Visit the IDC Financial Insights Community at http://idc-insights-community.com/financial.
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