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Real-Time Processing Architecture for Financial ServicesProduct Type: Market Research ReportPublished by: IDC Published: January 2004 Product Code: R104-22818 Description In this study, Financial Insights examines transaction processing in Canadian
financial services markets, and how it is impacted by forces like technological
advancements, globalization, workforce specialization, and the development of
large transaction services companies. This study reviews industry trends and
strategies, offers insight into critical issues, and provides valuable
prediction and prescription for IT vendors and end-users operating in the
Canadian financial services landscape.
"The movement to a real-time processing architecture, already a key competitive
differentiator for financial institutions today, will transform the industry
over the next five years. New global processing companies will emerge and
create business value by linking partner systems ? not just in-house systems,
but across the industry ? to attain total connectivity."
Matt Jarrett, Senior Analyst, Financial Insights CanadaTable of Contents Table of Contents IDC Opinion In This Study Situation Overview Market forces & regulatory change drive need for transaction processing improvement Transactions & transaction costs defined. Figure: Transactions are comprised of six essential elements Transaction efficiency is core to all financial institutions Transaction costs determine the structure of the firm Banks collaborate to drive down transaction costs FIs turn to outsourcing for scale & transactional expertise Future Outlook Inefficient processes increase risk Figure: Business processes will continue to increase risk because they are Industry issues will compound the problem FIS will reengineer processes across five key functions Figure: FIs perform 5 essential functions Figure: RTP: continuous, connected, collaborative Process re-engineering efforts vary by market segment Figure: Process re-engineering efforts across Canadian FIs Process pain & technology opportunity in insurance Process pain & technology opportunity in banking Process pain & technology opportunity in financial markets Implications of RTP to the financial services industry Essential Guidance Guidance for vendors Guidance for financial institutions Learn More Related Research Synopsis |
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