Payments in the Cloud: Navigating Strategic Choices

There is no doubt anymore that the future of Payments is in the Cloud. However, this statement hides a lot of complexity as one size does not fit all.

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Payment and technology leaders in banks have to navigate through a maze of myriad options keeping in mind their business context, technology landscape and future aspirations.

Through this in-depth paper from Celent, sponsored by Temenos, the reader will be exposed to the wide range of strategic choices in the path to pick the right Cloud strategy and solution. It covers all the key aspects that banks need to carefully consider, highlighting how they differ and what the consequences are to help banks build a more realistic view of their cloud journey.

Download the white paper today to find out more:

Payments in the Cloud: Navigating Strategic Choices

There is no doubt anymore that the future of Payments is in the Cloud. However, this statement hides a lot of complexity as one size does not fit all.

DOWNLOAD WHITE PAPER

Payments across the world are evolving rapidly from a back-office function to a bona fide business for an increasing number of companies, driving revenue growth-led transformation – and one which also delivers increased operational and cost efficiencies.

The numbers are compelling: McKinsey estimates global payments revenues reached close to $1.9 trillion in 2017, and they forecast those numbers will reach roughly $3 trillion in 2022.

While this is a global phenomenon, APAC is leading the charge, dominating global payments revenue in 2017 – accounting for approximately 50% ($945 billion), according to McKinsey.

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Payments in the Cloud: Navigating Strategic Choices

There is no doubt anymore that the future of Payments is in the Cloud. However, this statement hides a lot of complexity as one size does not fit all.

DOWNLOAD WHITE PAPER

As in other regions that have witnessed similar economic performance, Thailand is now home to a rapidly growing middle class, characterized, as elsewhere, by higher levels of disposable income. Not surprisingly, property developers building luxury condos were among the first to arrive and the luxury brands now on display in the malls of Siam Square were also quick to capitalize on this new customer segment. The wealth management industry however, usually at the forefront of such changing demographics, seems to have been slow to respond.

Initially hampered by high barriers to entry, low levels of financial literacy and rapidly changing regulations, the wealth management industry now seems to be gaining traction in this frontier market but what opportunities exist? What are the hurdles that must be overcome and what are the threats to success?

In our latest report, we put a spotlight on Thailand’s wealth sector in the wake of a changing demographics and growing wealth segment. This article explains:

challenges that banks and wealth managers are facing in an attempt to capture the growing segment.
reasons why banks in Thailand are unable to capture the majority of the wealth.
how banks can grasp the opportunity in the Thai wealth management segment through technological innovation.

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Payments in the Cloud: Navigating Strategic Choices

There is no doubt anymore that the future of Payments is in the Cloud. However, this statement hides a lot of complexity as one size does not fit all.

DOWNLOAD WHITE PAPER

How do you create business agility whilst leveraging the API economy? This CSS Insight paper analyses the elements emerging as essential considerations for banks and their innovation programs, embracing the API economy, leveraging developer portals and building ecosystems.

• Changing market dynamics
• Advent of the API economy
• Developer Portals and banking

Payments in the Cloud: Navigating Strategic Choices

There is no doubt anymore that the future of Payments is in the Cloud. However, this statement hides a lot of complexity as one size does not fit all.

DOWNLOAD WHITE PAPER

Open banking, which is based on data sharing, is poised
to be the next wave of digital transformation in the financial sector in Asia
Pacific. It is unlikely to be a short-lived trend, and has gained momentum
because of the extra push from regulators, who generally support it and in some
countries mandate it.

In this white paper, a joint venture by Microsoft, Linklaters and Accenture, in which our very own Rohini Goyal – APAC Digital Strategist at Temenos contributed to, explores the various drivers behind open banking in Asia Pacific, as well as the challenges financial institutions and regulators will have to address to ensure all participants can reap the benefits. In conclusion, the white paper offers recommendations to the industry and regulators towards the successful adoption and advantages of open banking.

This white
paper includes the insights and perspectives of over a dozen interviewees
representing different parts of the open banking ecosystem, including incumbent
financial institutions, fintechs, technology companies, consultancies and
others.

With open banking, “unless you’re adding value for the end customer, it won’t stick.”

Rohini Goyal, APAC Digital Strategist at Temenos

Download the white paper today to find out more:

Find out more

Open Banking and beyond – A customer-driven data economy

Scott Farrell’s talk on data, its challenges for banks and how to give back the choice, convenience and confidence to the customer in the way they share their data.

Open Banking and the Asia Pacific Financial Services

Attack is the best form of defense, so says the age-old adage. As cliché as this sound, banks, insurers, brokerage and advisory firms – traditionally known as the financial services…

The Future of the Digital Banking Experience in Asia Pacific

Have you ever been personally asked what you want from your digital banking experience and the type of journey you want to take? Our research results help answer this question and give some guidance on the next steps to take to ensure better digital banking experiences.

Payments in the Cloud: Navigating Strategic Choices

There is no doubt anymore that the future of Payments is in the Cloud. However, this statement hides a lot of complexity as one size does not fit all.

DOWNLOAD WHITE PAPER

Asia’s emerging markets are among the world’s fastest-growing economies, and their growth is fueling an expansion of the middle class, both in size and financial clout.

By 2030, the region will accommodate two-thirds of the global middle class population, according to the OECD. In China alone, the middle class is expected to swell to almost 1.2 billion people in the same time period. As a result, the world’s purchasing power center is gradually shifting from West to East.

This trajectory will have significant implications for the financial services industry, especially when it comes to wealth management. However, despite these changing dynamics, many in the sector remain focused on serving deep-pocketed clients. At Temenos, it is our view that Asia’s burgeoning mass affluent market offers vital opportunities, and fintech developments pave the way to make the most of them.

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Payments in the Cloud: Navigating Strategic Choices

There is no doubt anymore that the future of Payments is in the Cloud. However, this statement hides a lot of complexity as one size does not fit all.

DOWNLOAD WHITE PAPER

Amidst a backdrop of persistent tough macro-economic conditions and geopolitical uncertainty, the rise of new competition and evolving customer demands, as well as crippling legacy architectures, incumbent banks have an immense opportunity to harness the power of digitization to transform their business. Recognising our role as a true strategic partner to our clients, we introduced the Temenos Value Benchmark program in 2018 to provide our clients with tangible data-driven insights on the business value enabled by their investment in IT. Nearly 50 retail, corporate and universal banks across the globe have participated so far. An analysis of the data collected to date, highlights that our top-performing clients already achieve industry-leading cost-income ratios of 26.8%, half the industry average and returns on equity of 29%, three times the industry average.

These clients also invest over 51% of their IT budget on growth and innovation rather than on maintenance, which is double the industry average. In this paper we share our analysis of the key factors that differentiate high performing banks (i.e. those with better cost-income ratios and/or returns on equity), from the average performers, focusing on the tangible drivers of business performance in the industry.

Download the white paper today to find out more:

Payments in the Cloud: Navigating Strategic Choices

There is no doubt anymore that the future of Payments is in the Cloud. However, this statement hides a lot of complexity as one size does not fit all.

DOWNLOAD WHITE PAPER

It seems like a simple question that would be commonplace as we continue to embrace technology for our finances. It would seem reasonable to assume that banks have undertaken this unassuming exercise as they invest heavily into digital banking platforms and services. Yet few have and few really know what their retail customers want – at least that was our hypothesis.

In partnership with Tech Research Asia (TRA), we decided to investigate and test our hypothesis via a comprehensive research project. TRA surveyed over 2000 consumers in China, Hong Kong, The Philippines and Australia. We also asked over 100 individuals in face-to-face video interviews in Sydney, Manila, Shanghai and Hong Kong what they thought about their current digital banking experiences and what they want in future.

Download this report to read the results of this research, which offers guidance to banks and other organizations looking to improve their digital experience:

Find out More

digital-banking-experience-in-asia-video-thumbnail

Video Serie: The Digital Banking Experience in Asia-1

We travelled across Sydney, Manila, Shanghai and Hong Kong and asked real banking customers 3 questions for 1 coffee. Here’s what they had to say about their current digital experience and what their bank does well.

Video Serie:The Digital Banking Experience in Asia-2

We are living in a fast-moving digitally connected world where data is at the heart of everything we do.

Video Serie:The Digital Banking Experience in Asia-3

One of the most interesting topics in almost every aspect of one’s life is the future. Where will you see yourself in the future is a very frequently asked question.

Payments in the Cloud: Navigating Strategic Choices

There is no doubt anymore that the future of Payments is in the Cloud. However, this statement hides a lot of complexity as one size does not fit all.

DOWNLOAD WHITE PAPER

Payments in the Cloud: Navigating Strategic Choices

There is no doubt anymore that the future of Payments is in the Cloud. However, this statement hides a lot of complexity as one size does not fit all.

DOWNLOAD WHITE PAPER

Payment players today have a Catch-22 on their hands – they need to deliver on key industry and market initiatives like SWIFT gpi, ISO20022 migration of SWIFT and various RTGS systems, Universal Confirmations and new payment regulations on one hand, while also delivering strategic changes to their payment landscape to make it ‘agile’ and ‘future-ready’ to deal with needs of a ‘real-time’ world.

Navigating these challenges requires finding the right balance in your priorities – distinguishing the overlap between ‘urgent’ and ‘important’ initiatives to deliver on both.

This report from Ovum provides insights on the spectrum of challenges faced by payments providers today and their prioritisation.

Download the white paper today to find out more:

The future of banking starts here

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