This IDC Financial Insights report examines the core banking systems deployed within the top 10 banks (in asset size) in each of the 12 key Asia/Pacific markets and investigates the prospects of core systems upgrades within this segment of banks. The report also discusses the old and new drivers that spur core banking modernization.
Michael Araneta, associate research director for IDC Financial Insights Asia/Pacific, states, "Several business imperatives like cost management, scalability, and time to market prove to be everlasting drivers for modernizing core banking systems. However, new drivers such as better data management, improved risk analytics, and super-regionalization have become pertinent in the region."
Araneta continues, "The next three years will be interesting as core banking deal sheets start to be filled, a welcome development after lackluster deal-making not so long ago. There will also be extraordinary developments on the vendor side, not only in terms of new capabilities that vendors will bring online. It will be interesting to see the new propositions vendors bring to the table but also which vendors come to the table in the first place."