Asian Banker Survey - Multi-Channel Customer Service and On-Boarding Processes of Banks in Asia

Executive Summary

  1. Banks believe improving "customer on-boarding services" can potentially increase cost efficiency
    75% of responding banks said that they expect 10%–20% cost reduction from better customer onboarding, with transaction bankers being more optimistic than retail bankers.
  2. The main aim of banks in process automation is growth
    Only 25% of banks stated that they automate primarily for growth, while 62% said they seek both growth and efficiency. However, upon reaching a certain level of efficiency, growth—and achieving economies of scale—is the easiest way to better efficiency.
  3. Despite the global economic slowdown, banks continue to increase their investment in technology
    On average, 63% of respondents stated that their banks have increased their level of process automation in the last year, while 34% said there was no change. 100% of bankers believed higher levels of automation will bring a certain level of cost reduction.
  4. Consumer loans and payments are the most innovative products
    76% of banks stated that their most innovative products related to payments, while 67% said they related to consumer loans. Wealth and liquidity management were the least innovative areas. However, many Asian banks are currently putting considerable resources into developing their wealth management and SME businesses.
  5. Infrastructure for CRM and data analytics tools/applications have improved notably
    90% of banks from emerging markets identified CRM and data analytics as areas in which they put intense effort over the past few years, and say they will continue to do so due to the growing importance of customer relationship management.
  6. Two in three South Asian banks see themselves as leaders in IT innovation
    70% of South Asian banks see themselves as leaders in IT innovation. 57% in Southeast Asia and 44% in North Asia claim to have IT leadership in their market.
  7. Two in three mature market banks in Asia see inflexible IT systems as a barrier
    68% of banks in mature markets banks say inflexible systems are a barrier, while only 29% of emerging market banks think so.
  8. Core banking upgrades and customer relationship systems are the most common major IT projects in Asia 
    Among major IT upgrades in 2011, 30% related to core banking upgrades, 20% related to data analytics and CRM, and 13% involved alternative channels.