This Financial Insights report enumerates the key discussion points from a closed-door roundtable led by Financial Insights and involving 13 CIOs and IT heads from Philippine banks. This report examines the top strategic business and technology plans banks in the country are implementing, and discusses how these initiatives build or enhance their competitive advantage going forward.

"The attending issues Philippine banks are facing center around topics such as technology optimization, risk and information security, Internet banking, loans origination, and customer analytics," comments Li-May Chew, CFA, senior research manager, Asia/Pacific Financial Advisory Service. "Optimization sees the banks favoring variable to fixed IT investments, increasingly exploring Web-delivered IT services, and involving line-of-business executives and senior-level management in technology investment decisions."

This report also reviews the future strategy and technology undertakings of the participating institutions in the subsequent 6-12 months. Strategic imperatives that Philippine banks are focused on include enhancing operational efficiencies, cost controls, and ensuring efficacy in the utilization of technology (IT optimization once again) as banks seek to rein in cost and make the most out of limited resources.