Recent research reveals that 55 percent of Asian financial institutions rated themselves as ahead of the industry regarding the usage of technology to improve internal processes, placing them as a clear regional leader in the area.
This was according to a study by ACI Worldwide and OVUM that focused on innovation and business transformation at nearly 1,200 financial institutions globally. Considerably trailing behind Asia in perceiving their region to be ahead in tech usage was Europe (41 percent) and U.S. (38 percent).
At a more granular level Asian respondents were also self-perceived leaders in unlocking value from data (47 percent); having a clear cloud strategy (52 percent); and payment innovations (51 percent).
Rapid Payment Growth
«The pace of change in the payments ecosystem continues to be relentless,» said Mike Braatz, chief product and marketing officer at ACI Worldwide. «More than ever before, innovation will be a significant driver of business success.»
The study found that real-time payments were currently the significant driver behind financial innovation with merchants and corporates focused on new payment options and related security.
Whilst technology will continue to be a major component, Braatz stresses that «it is people who truly change organization», explaining that alignment between cultural change and tech leadership will be key to success.
