London, 28 November 2014 – TechNavio has announced the publication of its market research report on the Banking IT Spending Market in the APAC Region, which is expected to post a CAGR of 7.11 percent from 2015-2019.
Volatile market conditions are forcing banks in emerging economies to significantly enhance their IT spending and invest in risk management solutions, in order to mitigate financial risk.
About the Report
According to the latest report by TechNavio, the increased adoption of smartphones in the APAC region is prompting many banks to shift their focus to contactless mobile payments.
“With the growing number of cellphone users in countries like Japan, Korea, China and India, mobile banking has become the second largest segment after online banking in the Banking IT Spending Market,” says Faisal Ghaus, Vice President of TechNavio.
By providing banking solutions through smartphones, banks can enhance customer interaction and improve brand loyalty. Many regional IT vendors are already offering innovative solutions for this segment.
Furthermore, SMEs are demanding more innovative and sophisticated financial and commercial solutions in terms of products and services for various business segments. Vendors are developing innovative IT solutions and customer-centric, multichannel capabilities for SME banking so as to increase their profits.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2019
Market Growth Drivers:
- Need for Risk Management Systems
- For a full detailed list, view our report.
Market Challenges:
- Unequal Growth of Banking Sector in APAC Region
- For a full detailed list, view our report.
Market Trends:
- More Smartphone Users
- For a full detailed list, view our report.
Key Vendors:
- Fujitsu Ltd.
- Hewlett-Packard Co. (HP)
- IBM Corp.
- Oracle Corp.
Other Prominent Vendors:
- Dell
- Fiserv
- Misys
- Polaris Software Lab
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
