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Are Western European Financial Services Companies Ready for Web Services?Product Type: Market Research ReportPublished by: IDC Published: March 2004 Product Code: R104-14566 Description 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."Table of Contents Table of Contents IDC Opinion In This Study Methodology Conceptual Framework Sample Design Sampling Unit: IDC's Economic Entity Sample Quotas Table: Vertical Market Quotas Table: Company Size Quotas Sample Frame and Sampling Method Table: Number of Completes by Country Respondents Interviews Questionnaires Interview Schedule Confidence Intervals Weighting Analysis of the Data Situation Overview Web Interface: The First Step to Standardizing Access to IT Systems Figure: Percentage of Web-Enabled PCs in Western European Financial Services Industry Banking Figure: Percentage of Western European Banking Institutions That Currently Adopt a Web Interface to Manage the Following Solutions Other Financial Services Figure: Percentage of Western European Other Finance Institutions That Currently Adopt a Web Interface to Manage the Following Solutions Insurance Figure: Percentage of Western European Insurance Institutions That Currently Adopt a Web Interface to Manage the Following Solutions Summing Up XML: Moving Towards Automated Processes Figure: XML Knowledge in Western European Financial Services Industry Figure: XML Status of the Western European Banking Industry Figure: XML Status of Western European Other Finance Industry Figure: XML Status of the Western European Insurance Industry Summing Up Future Outlook Future of Web Services in Western European Financial Services Industry Definition Web Services Standards Business Implications Web Services Adoption and Future Investment Figure: Web Services Status of the Western European Financial Services Industry IT Budget Dedicated to Web Services Table: Web Services Spending Across Western European Financial Services Market in 2004 Preferred Application Implementation Using Web Services Figure: Preferred Applications to Implement a Web Services Environment in the Western European Banking Industry Figure: Preferred Applications to Implement a Web Services Environment in the Western European Other Finance Industry Figure: Preferred Applications to Implement a Web Services Environment in the Western European Insurance Industry Figure: Reasons for the Slowdown in Implementation of Web Services in the Next 12 Months for the Western European Banking Industry Figure: Reasons for the Slowdown in Implementation of Web Services in the Next 12 Months for Western European Other Finance Industry Figure: Reasons for the Slowdown in Implementation of Web Services in Next 12 Months for Western European Insurance Industry Essential Guidance Learn More Related Research Synopsis |
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