In the information age, banks have more data to cope with than ever before. But rather than prove a burden, this can be an opportunity to gain a genuine competitive advantage. John Morton, chief technology officer with business analytics and intelligence provider SAS UK and Ireland, explains how banks can make the most of the mass of information available to them.
IT teams from all corners of the banking world have proven more inventive than ever over the past 12 months, while the role of technology providers is growing in importance. The Banker’s Innovation in Banking Technology Awards celebrates those behind the industry’s brightest ideas and most capable platforms and systems.
A Surendran, a general manager and head of international banking with Federal Bank of India, tells The Banker about the bank's innovative payments strategy designed to improve access to banking channels and boost the provision of electronic transactions.
Banks are looking for a larger slice of the highly liquid foreign exchange market, and in response FX trading providers are developing their technology apace. But with the huge technology requirements for FX houses and the changing regulatory landscape, the battle lines are being redrawn.
International listings are a huge part of the London Stock Exchange's business, but emerging market exchanges are becoming a genuine source of competition. However, the LSE's reputation and prestige look set to keep the bourse's global standing high in the short to medium term at the very least.
The vice-managing director for IT at Industrial and Commercial Bank of China's headquarters, Zhang Ying, explains the bank's plans to move more of its IT functions in house and discusses the technological challenges of a firm boasting 259 million individual customers.