Financial Institutions Must Adapt and Innovate or Be Left Behind

Outdated systems are preventing one in four Asia Pacific banks from investing in disruptive technologies, says Greg Watson, citing a recent Fenergo survey. New financial technologies are completely transforming the finance industry, shaking up traditional ways of thinking and reshaping financial services as we know it. As banks begin to explore the benefits of new technologies such as big data analytics and artificial intelligence (AI) they will soon reap the rewards of increased efficiencies and improvements to client life cycle management (CLM). However, not all banks across APAC are getting on board. A recent survey showed that legacy infrastructure is preventing almost one in four (24%) banks in APAC from investing in new, disruptive technologies.