Abstract
Introduction
Between October 2008 and February 2009, and against the dramatic backdrop of
the global financial crisis, Datamonitor conducted its latest investigation
into the technology spending strategies of retail banks in Australia and New
Zealand.
Scope of this research
- The survey involved discussing strategic operational and technological
imperatives with decision-makers responsible for IT investment.
- Datamonitor' s survey involved conducting structured interviews comprised
of three sections: demographics, IT budget changes and technology adoption.
Research and analysis highlights
The key findings of the survey indicate that business transformation and
off-shoring projects are leading strategic goals in 2009. Encouragingly,
carefully targeted investments will be made in key operational and
technological areas.
Key reasons to purchase this research
- Gain insight into the IT investment priorities within Australasian retail
banks in 2009.
- Understand the effects of the financial crisis on the IT budgets of
Australasian retail banks.
Table of Contents
OVERVIEW
ANALYSIS
- 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
APPENDIX
- Methodology
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
TABLES
- Table: Declining GDP in Australia and New Zealand, Q3 2008 to Q1 2009
FIGURES
- 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
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