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Australian Banking & Financial Technology Innovation Summitwill be held at Shangri-La in Sydney on 17-18 September 2012. The Summit is expected to attract over 150 senior level executives from the banking and financial services industry in Australia. The Banking & Financial Technology Summit will provide its delegates with a platform to learn of the latest trends in place and the opportunities that exist to drive change through innovation now and into the future.
Security concerns about cloud computing in the financial world has been existing for many years. With sectors like banking and financial services adopting cloud, securing data assumes significance, though cloud based offerings are transforming the customer’s banking experience.
Global cloud computing market is expected to grow from $40.7 billion in 2011 to $241 billion in 2020, Forrester Research forecasts. Infrastructure-as-a-service will grow from $2.9 billion in 2011 to peak at $5.9 billion in 2014. Software-as-a-service will grow from $21.2 billion in 2011 to $92.8 billion in 2016.
Charles Woods, Director, Risk and Resiliency Centre of Excellency, IBM Asia Pacific will deliver a presentation at the Banking & Financial Technology Summit on “Overcoming security concerns around cloud computing”. His discussion will talk about how to assess the market, what tools are used to ensure a risk-aware approach and how to identify a problem faster in the life cycle.
It’s hard to tell what is changing faster, is it customer expectations or the technology that both fuels and fulfils these expectations. Customer behaviour and technology will change the future of the financial services industry. The adoption and diffusion of technology into social lives has been getting faster and faster over the last decades. The arrival of the internet, the emergence of smart mobile devices and mobile payment systems have dramatically shifted customer behaviour and thus the business models of financial institutions. Some surveys have show that more than 50% of iPhone users have used mobile banking, and 33 percent of mobile banking users monitor their accounts daily.
There is no doubt that strong relationships with consumers can be developed through electronic means. More and more people trust information received from online social networks more than they do information via the traditional media, and the younger generation like to conduct purchasing and payment activities online. Many banks have recognised that products are no longer differentiated much, and branding is not the sole factor in success. What really matters is to adapt to customers’ changing behaviour by using technology.
In another interesting presentation, Cyrus Allen, Head of Customer Experience ANZ will discuss “Customers behaving badly and how new technology is facilitating a paradigm shift in the way customers perceive and value financial institutions.
For more information on the Australian Banking & Financial Technology Innovation Summit, please visit http://www.bankingsummit.com.au or contact Expotrade on +613-95450360.