BAI Banking Strategies Executive Report:
The Year Ahead: CIO Perspectives for 2013
When did technology take over our lives? For most of us, it was about the time we purchased our first smartphone and then later added a tablet on top of that, both of which we now can’t leave home without. The same applies to bank customers, who today can use online banking, image-scanning ATMs and mobile to conduct nearly all of their transactions without ever setting foot in a branch. Technology, you might say, is banking.
All of these rapid technological advances put added pressure on bank technology chiefs or chief information officers (CIOs) because these devices need to work perfectly and integrate seamlessly, at least from the customer’s point of view. And on top of that, bank Information Technology (IT) departments need to live within the cost constraints and tightened regulatory environment currently imposed on the financial services industry overall. In the following BAI Banking Strategies Executive Report, we highlight these and other challenges facing bank technology leaders as they begin the new year.
Articles in this Executive Report include:
Technology Priorities for 2013 at Large Banks
Entering 2013, large bank CIOs face a host of challenges and opportunities such as expense control, internal reorganization, risk management, cloud computing, regulatory compliance and mobile.
Australia’s Suncorp Turns IT Innovation into Culture and Competitive Advantage
Jeff Smith is CEO, Business Services, at Suncorp, which operates Australia’s largest general insurer, fifth largest bank and a life insurance business. Mr. Smith was interviewed by Oracle about Suncorp’s enterprise transformation initiative, an ambitious project patterned on IT leaders like Google, Amazon.com, and Apple.
Hooking Up: IT and Lines of Business
To accommodate ever faster trends in technology, banks are restructuring their IT departments to link them more closely to their lines of business.
National Australia Bank Navigates Next-Gen Banking with Oracle
National Australia Bank Group (NAB), with market capitalization of approximately $58 billion, set forth a bold agenda in 2009 — to be the first Australian bank to take a leadership stance on reputation.
Transforming the Business of Banking
Much has been written about the impact of new regulatory requirements on retail banking, but the key take-away is a simple one: the regulatory agenda requires more capital, more and higher quality liquidity and less leverage on a bank’s balance sheet, all adding up to a more conservative risk position and significant downward pressure on profits.