Report: Retail Banking Technology Spending Strategies in Australasia (Analyst Insight) TOC

Like their European & North American peers, Australasian banks face a difficult year in 2009
- Australia' s banking sector and current economic environment
- New Zealand' s banking sector and current economic environment

Economic conditions are influencing IT budgets in 2009
Gauging the effects of the financial crisis on the IT budgets of Australasian retail banks
2009: the year of cost reduction and revenue generation initiatives
Business transformation and off-shoring projects are leading strategic goals in 2009
Carefully targeted IT investments will be made in key operational and technological areas
Regulatory compliance has a partial influence on IT spending
The re-engineering of existing core systems is the strategy favored by Australasian banks
Investments will be made in a range of payment technology areas
Spending is increasing on branches, as banks seek to improve sales-through-service

Figure: Key events in response to the financial crisis in Australasia
Figure: IT budgets have decreased or remained flat
Figure: The financial crisis has directly affected IT spending within Australasian retail banks
Figure: Cost reduction and revenue increasing initiatives are of paramount importance
Figure: Business transformation and off-shoring programs are strategic goals for IT in 2009
Figure: Australasian banks are increasing IT investment in a broad number of business areas
Figure: Security software and business intelligence are leading technology investment areas
Figure: Compliance is influencing investment in risk management and fraud detection
Figure: Re-engineering the core system is the leading strategy for Australasian retail banks
Figure: Banks plan to invest in anti-fraud technologies and strengthen access to online sites

Retail Banking Technology Spending Strategies in Australasia (Analyst Insight)