Summary 1
Catalyst 1
Ovum view 1
Key messages 2
Consumer protection regulation and new Basel requirements will impede revenue growth potential 2
Enabling faster product development is the top investment priority, driving core transformation 2
Fraud, anti-money laundering and operational risk are driving IT investment on the compliance side 2
Table of Contents 3
Table of Figures 4
Australasian Banks have Moved from Crisis to Transformation Mode 5
Financial performance has rebounded, although regulatory pressure is increasing 5
Australasian banking profitability has been restored moving into 2010 7
Regulatory pressure around stability and consumer protection will impede revenue growth 8
IT spending has shifted from a freeze mentality to supporting transformation 10
The initial impact of the financial crisis on IT was stronger in Australasia than in the most affected regions 11
However, Australasian banks are making strategic IT investments in 2010 12
Core Transformation, Compliance and Online Banking are Key IT Spending Areas for 2010 13
Enabling faster product development is the top investment priority, albeit through diverse core transformation strategies 14
Time-to-market and centralized customer information are top drivers of core transformation 15
Core strategies remain highly institution-specific, rather than following an 'Australian' trend 16
Fraud, AML and operational risk are driving IT investment on the compliance side 18
Australian payment fraud is low by international standards, but has been on an upward trajectory 18
Tackling financial crime remains an ongoing investment area, with the focus on enabling investigations 20
Operational risk focus is on quantitative risk measurement and modeling 21
Online banking renewal will focus on user experience, self-service and sales 22
Renewal of CBA's NetBank online platform in 2009 has created a competitive impetus for the sector 22
The focus of renewal is on enhancing navigation, application submission and service breadth 23
Recommendations 24
Recommendations for enterprises 24
The success of core transformation depends on process optimization and standardization 24
Institutions need to look for synergies across compliance initiatives, such as with AML and fraud 24
Recommendations for vendors 25
Non-core vendors should position offerings to help banks unlock the value of core investments 25
Opportunities remain in channels, particularly direct ones, despite core transformation projects 25
Appendix 26
Ask the analyst 26
Definitions 26
Methodology 26
Disclaimer 27
List of Figures
Figure 1: The main acquisitions by Australian banks in 2009 and 2010 6
Figure 2: Pro rata Australasian top-level overall financial performance of the big four banks, 2008 to H1 2010 7
Figure 3: The main regulatory changes impacting Australasian banking over 2010-12 8
Figure 4: The IT impact of the financial crisis was stronger in Australasian banking than in the US or Europe 11
Figure 5: Australasian banks have shifted from project freeze mode to supporting transformation 12
Figure 6: The top IT investment area for 2010 in Australasian banking is product development 14
Figure 7: Faster product development is a primary driver behind core system transformation 16
Figure 8: Core transformation strategies for the big four Australasian banking groups 17
Figure 9: Australia payment fraud has been on an upward trajectory over the last half-decade 19
Figure 10: Tackling financial crime and ORM are top IT spending areas in compliance 20
Figure 11: Quantitative risk measurement and modeling and loss event capture are top ORM investment areas 21
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