IDC to reveal country-specific challenges of financial institutions in Asia/Pacific.
SINGAPORE, August 4, 2022 – In a recent IDC report titled, Staying Ahead of Fraud in 2022 and Beyond: A Principles-Based Guide for Asia/Pacific Financial Institutions, IDC found that banks worldwide are expected to spend more US$31 billion in AI embedded in existing systems by 2025. Similarly, in a recent IDC survey of banking executives worldwide, fraud management featured strongly as a priority.
“In the process of developing digital products and services, new channels, and new payment methods, businesses may overestimate the adequacy of their current fraud defense mechanisms. of the business. There needs to be continuously upgrading fraud management capabilities,” said Michael Araneta, Associate Vice President, IDC Financial Insights.
The upcoming IDC Conference: Financial Insights from August 16 – September 8, 2022will keep financial institutions (FIs) ahead of fraud trends by following the basic principles of how FIs can prevent and manage fraud risks without piling on solutions just to stay current with trends in fraud.
Join IDC Asia/Pacific’s Financial Insights Analysts and industry experts from Maybank, Standard Chartered Bank, HSBC Bank, DBS Bank, TMBThanachart Bank, Kyndryl Hong Kong, Callsign, ServiceNow, and more as they dive deeper into the country-specific challenges facing FIs and the new skills they need to master to position themselves as orchestrators for industry ecosystems.
“This is a unique time in financial services. The industry is in the middle of two crisis scenarios, each side requiring solutions that may conflict with each other. Government policy needs to maneuver, and the financial services institutions – banks, insurers, capital market companies – must balance between the pursuit of profit and risk management,” Araneta said.
IDC Conference: Financial Insights Ends 7,000 users from the banking, financial services, and insurance industry (BFSI) in 10 countries in Asia/Pacific, focusing on themes and topics such as:
– Data-Driven Digital Innovation
– Core Transformation: Multi-Core Approach
– Cloud Management: Right Sizing, Optimization and Refinement
– Trust: Data Security and Customer Data Privacy
– Green and Sustainable Finance
“By 2023, the industry will also be platform-building, allowing financial services to be externalized and extended to third parties. We see earlier efforts in open banking bearing fruit, but we also note that the industry is increasingly developing platforms and pursuing new partnerships such as banking as a service (BaaS) and digital lifestyle ecosystems. What is clear is that being digital-first means being attuned to the unique moment in the recovery of financial services,” concluded Araneta.
Register today and be a part of this year’s IDC Conference: Financial Insights. Join the BFSI industry in discussing the new capabilities financial institutions need to build data-driven businesses and transform through data and technology platforms.
For more information on this event, please contact Sok Yee Tham at [email protected]. For media inquiries, please contact Tessa Rago at [email protected] or Michael De La Cruz at [email protected].
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About IDC Financial Insights
IDC Financial Insights helps financial services businesses and IT leaders, as well as the suppliers who serve them, make more effective technology decisions by providing accurate, timely, and insightful services evidence-based research and consulting. Staffed by senior analysts with decades of industry experience, our global research team analyzes and advises on business and technology issues facing the banking, insurance, and securities and investment industries. International Data Corporation (IDC) is the leading global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading technology, media, research, and events company.
About IDC
International Data Corporation (IDC) is the leading global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in more than 110 countries. IDC’s analysis and insights help IT professionals, business executives, and the investment community make fact-based technology decisions and to achieve their key business goals. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world’s leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDCAP and LinkedIn. Subscribe to the IDC Blog for industry news and insights.
Scope
Covered Companies
DBS Bank Ltd., IDC FINANCIAL PUBLISHING INC., Kyndryl Inc., FIS Inc., HSBC Holdings plc, Malayan Banking Berhad, Standard Chartered PLC, LinkedIn Corporation, TMB Bank Public Company Limited, ServiceNow, Inc., CALLSIGN, INC.
Covered Regions
Asia Pacific, Hong Kong
Topics Covered
Cloud management, Digital transformation, Disaster recovery, Disk-based data protection, Embedded, Governance, Risk management
Vertical Markets
Capital markets, Finance, Financial performance strategies, Insurance