The rapid progression of fraud schemes, regulatory initiatives, margin and cost pressures, customers’ demands, and the overall pace of change in technology inundated business and technology management in the global banking industry over the year. The good news (for some) is that these challenges are setting up a clear playing field upon which the winners will be separated from the losers more so than at any time in the past decade. Some of the more critical and far-reaching priorities bank technology and business leaders will need to address in 2007 are outlined below.
\nFraud-Detection and Security Technologies
\nAnalytics for Marketing, Risk & Business Performance
\nService-Oriented Architecture<\/p>\n","protected":false},"excerpt":{"rendered":"
Banks that have not yet addressed the need for multifactor authentication will have that at the top of their technology priority lists in 2007. Business process management, event-detection and alert technologies all will play a role in monitoring potential fraudulent activities, notifying legitimate customers of these activities and taking immediate action to prevent fraudsters from succeeding.<\/p>\n
Banks will continue to invest meaningful sums in analytic technologies that help drive marketing and sales effectiveness, monitor risks of all types and assess the performance of business activities.<\/p>\n
SOA exploration — ranging from “skunkworks” projects to formal architectural plan development — will continue in 2007 at large banks around the globe. Ultimately, SOA will sail (or flounder) based not on banks’ abilities to manage complex technology, but rather, success will be determined on issues of governance and business management.<\/p>\n
Rapid technology advances combined with the emergence of post-baby boom populations will change the way corporations, individuals and employees interact with banks. Institutions that are able to accommodate these trends through technology and operations restructuring will have true competitive advantage.<\/p>\n
http:\/\/www.banktech.com\/news\/showArticle.jhtml;jsessionid=KCNCQPACSGIXMQSNDLPCKH0CJUNN2JVN?articleID=197000257<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-369","post","type-post","status-publish","format-standard","hentry","category-financial"],"_links":{"self":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=369"}],"version-history":[{"count":1,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/369\/revisions"}],"predecessor-version":[{"id":2856,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/369\/revisions\/2856"}],"wp:attachment":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}