LONDON and SINGAPORE, March 15,
2013 /PRNewswire/ --
Technology spending will continue to rise among Asian financial
institutions; this was the overwhelming conclusion of the Misys
Southern Asia Market Forum 2013, which bought together over 100
representatives from 40 of the region's leading financial
institutions.
The high growth technology spending of financial institutions in
Asia; accessible banking platforms
such as mobile and social channels; and turning regulatory pressure
to a bank's advantage were among key discussions at the forum.
Michael Yeo, Market Analyst, IDF
Financial Insights Asia Pacific, commented that IT spending of
financial institutions was up 4% worldwide in 2012. In Asia Pacific, this figure was 7%, notably in
the areas of core banking, risk management and CRM, and Yeo
predicts it will increase to 8.8% in 2013. The rise in high tech
spending is evident in Singapore,
Malaysia, Indonesia and Philippines.
In 2013, there will be an uptake of forecasting and predictive
modeling; as well as mobile channels, which in Asia are likely to be driven by wealth
management firms, according to Yeo.
In the next two years, regulatory compliance software is likely
to account for a large part of financial institutions' IT
investment spending. Countries in Asia, such as Hong
Kong, Singapore and
Malaysia, are starting to converge
on how they deal with regulatory demands. Due to the increasing
number of compliance regulations and their growing complexity,
enterprise risk management departments are now receiving funding
more easily for their risk management software. It is becoming
clear that financial institutions consider collaborative risk
management solutions a key component of their risk technology
environment.
Bret Bolin, CEO of Misys, states,
"Misys provides solutions for more than 1,800 of the world's banks.
We focus on the challenges these financial institutions face now
and partner with them to provide them with valuable solutions to
help them meet the challenges of the changing marketplace in which
they operate. This two-day forum explored those challenges and
assessed how each of our solutions enables firms to serve their
customers better. We continue to evolve our solutions to add more
and more value to our customers as we help them meet their business
needs and those of their customers."
Misys operates 17 offices in Asia, including three development centres and
two recently opened offices in the
Philippines and Vietnam.
Approximately a third of the firm's new clients signed in the past
year are Asia-based.
About Misys
Misys is at the forefront of the financial software industry,
providing the broadest portfolio of banking, treasury, trading and
risk solutions available on the market. With 1,800 customers in 120
countries our team of domain experts and partners have an
unparalleled ability to address industry requirements at both a
global and local level.
Misys is able to address all customer requirements across both
the banking and trading book businesses. Misys is the trusted
partner that financial services organisations turn to for help
solving their most complex problems.
Find out more at http://www.misys.com
For further information please contact
Citigate Dewe Rogerson
Charlotte Bilney
Tel: +852-9314-3463
Email: charlotte.bilney@citigate.com.hk
Misys
Edward Taylor
Global Head of Public Relations
Tel: +44(0)20-3320-5530
Email: edward.taylor@misys.com