Reliable and up-to-date market intelligence is hard to come by, but is essential for businesses to reveal and exploit the unique opportunities which are now materialising. Completed by nearly half the Association of Foreign Banks (AFB) membership, this new survey report, published and launched at the AFB market Survey Event on 5th November, covers:
â¢ the business activities and future plans of AFB members and
â¢ the banking technology they employ and plan to introduce.
At the height of the market turmoil we might have expected to see technology plans somewhat subdued, but remarkably they were close to industry averages on, for example, system replacement rates.
However priorities are changing, and whereas business development might have been the main driver for change last year, operational efficiency and cost cutting are definitely the order of the day now. Some findings were more surprising; for example although credit risk management was high on the list of regulatory priorities, it was not at the top. (Youâll have to read the report to find out what was!)
The same survey was carried out in 2004; the 2008 results reveal a much greater diversity of systems in use despite the significant industry consolidation up until 2004. In 2004 the top three package systems accounted for 63% of the main banking systems in use; by 2008 it had reduced to 36%. Also, in-house systems are in decline from 28% in 2004 to 16% in 2008