The digital transformation journey of banks, particularly in the Asia-Pacific (APAC) region, has been a hot topic of discussion for years. Backbase , a global leader in engagement banking, has recently revealed the release of an IDC Infobrief that sheds light that a staggering 70% of digital transformation projects for banks in the APAC region have failed. A Regional Perspective on Digital Transformation The IDC Infobrief titled “ Accelerating Customer-Centric Transformation by Balancing Build and Buy – A Collaborative Approach Towards Sustainable Digital Banking Architecture ,” draws from a wealth of insights, based on data from 125 banks and 316 Chief Information Officers (CIOs) in APAC. With survey data from several APAC economies including Malaysia’s burgeoning banking industry, the report dives deep into the critical issues that shape the strategic approach of financial institutions in the region. It highlights the challenges that banks face in maintaining their legacy systems while also capitalising on growth opportunities. The report stresses the banks’ concerns about the potential risks and operational disruptions associated with system migrations in their digital transformation journey. The In-House Development Dilemma Ashish Kakar According to Ashish Kakar, Senior Director of Research, APAC of IDC , although banks have been […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
