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Home > Business/Finance > Financial Services > Electronic Transactions
Are Western European Financial Services Companies Ready for Web Services?
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| Published Date:
March 2004
Published By:
IDC
Page Count:
30
Order Code:
R104-14566
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| This study presents the key results of IDC's European Vertical Market survey,
carried out in December 2003 among banking, insurance, and other finance
companies with more than 20 employees in Western European countries. The survey
analysis is focused on Web interface, XML adoption, and Web services
penetration.
Overall, financial services institutions have shown their increasing interest
towards Web-enabled solutions as well as for XML and Web services, even though
in the latter case at the moment their adoption is still limited to specific
small projects.
The final section of the study includes a detailed analysis regarding future
opportunities of Web services technology across Western European financial
services. In particular, according to Mirko Corbetta, research analyst for the
European IT Opportunity: Financial Services research, "The best opportunities
for IT vendors in terms of market growth lie in serving brokers, stock
exchanges, and securities and investment firms. This is due to the strong
commitment these players have for streamlining processes and STP. However,
banking institutions will be ready to implement advanced Web services solutions
over the next five years, though maintaining a more pragmatic approach.
Ultimately insurance companies are very interested in Web services but they are
still evaluating the best way to exploit this technology."
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