Abstract
The IDC study analyzes the development of the China banking industry in 2007.
Moreover, this study provides a forecast for the China banking market,
including the developments in the industry, the trends in the IT market and its
development in the next five years, as well as the trends in various business
solutions markets.
In 2007, China banking industry' s IT solutions market size was RMB 5.125
billion, an increase of 24% compared with that in 2006. IDC predicts that this
market will increase at a compoound annual growth rate (CAGR) of 19.4% from
2008 to 2012. In 2012, the market size will reach RMB 12.434 billion. In the
next five years, risk management, financial auditing and controlling, business
intelligence (BI)/decision-making support management, and Internet banking
solution will be the fastest-growing segments of the IT solutions market within
the banking industry.
The IT construction plan within the 11th Five Year Plan will encourage the
China banking industry to increase its investment in information security. The
progressive compliance of IT and standard with global counterparts, customer
relationship management (CRM), financial analysis, asset-liability management,
risk management and other information system of technological management and
decision will become the focus of development, the financial innovation based
on information technology will be improved step by step, at the same time, the
integration and interconnection of various business system, the construction
and management of channels and platforms, the integration of customer service
center and CRM system are also the development trends of IT system of the
banking industry. "The solution providers must improve their ability of
providing IT planning and strategical consulting for the banks, and pay close
attention to the operation changes of banks, and provide them with needed
solutions to support their development and restructuring, at the same while,
stress the integration of various business applications after the integration
of bank data, and provide relevant solutions for the standardization and
compliance of the business system," says Quaint Li, market analyst, Vertical
Industries and Consulting, IDC China.
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