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Essential resources for banking executives:Enter ‘Banking Reinvented’

Accelerating customer-centric transformation by balancing build and buy

A collaborative approach toward sustainable digital banking

In this APAC-focused IDC Infobrief commissioned by Backbase, it presents a disruptive
finding that despite spending $100 billion annually on technology, it is not enough for
banks in APAC to ensure competitiveness or customer centricity.

70% of the digital transformation projects have failed and out of the 30% which
succeeded, 52% are underperforming and 20-25% are not generating ROI.
Digital transformation hasn’t taken off for banks in APAC as they had envisioned. From
IDC’s data, in-house build strategy has been the de facto, yet banking CIOs of today are
questioning - why is build the prevailing option?

The IDC Infobrief serves as a consultative guide, supporting APAC banks in resolving
their dilemma while selecting a robust platform strategy. The Infobrief is structured to
empower banking leaders to conduct due diligence and formulate an engagement
banking platform strategy that revolves around customer-centric transformation and
differentiated customer engagement.

This IDC Infobrief report #AP241480IB June 2023 is commissioned by Backbase.

“Building in-house has been a de-facto strategy by banks, but it’s no longer feasible to deliver to the pace and scale that is required to be competitive. The complexities that come with the extensive amount of data layers, channels, features, upstream and downstream integration that needs to support legacy and modern systems to manage and orchestrate sophisticatedly is where in-house implementation breaks apart.”

Ashish Kakar, Senior Director of Research, APAC- IDC

Get the report


Want to learn how 150+ banks in APAC and beyond have accelerated their digital transformations?

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