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Nancy Feig and Ivy Schmerken
Nancy Feig and Ivy Schmerken
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IT Executives Looking For Fastest Ways To Make Effective Business Decisions

Technology executives have a need for speed

Our editors asked experts across the financial services industry to predict the hot technology topics for their sectors in 2008. Despite some unique sector-specific challenges, universal themes emerged that span the insurance, banking and capital markets businesses. In the coming year, data management, business intelligence and risk management will be top of mind for financial services technology executives. But one premise unifies almost all of the predictions for next year: speed. IT executives are looking for the fastest ways to make effective business decisions about everything that goes on within their organizations and to deliver services to market.

P&C Carriers Will Look for In-Depth Analysis
Data integration, modeling, and analytics will continue to areas of focus and investment within many property and casualty (P&C) carriers.

Banks Will Revamp Payment Infrastructures
In 2008, financial institutions will increasingly test "payment architecture committees" and seed enterprise-level IT budgets.

Beneficial Financial Group CIO Steve Terry Discusses Business Intelligence Tools
How to be effective with the available business intelligence tools is a real challenge, Beneficial Financial Group CIO Steve Terry says.

Metlife Bank CTO Mark La Penta Talks About Holistic Risk Management
Items under the risk umbrella such as security, privacy, suitability, will no longer be treated as isolated efforts.

IT Needs to Be Integrated, Not Just Aligned, With Business
Leveraging SOA and understanding the burgeoning role of social computing will keep CIOs busy this coming year.

SAP's Falk Reiker Discusses Real-Time Operability Change
It will not be an overnight transformation. Banks will start with a phased approach that first simplifies the processes they currently have in place to reduce redundancy.

Rapid Rollout of Services Will Differentiate the Market
It's going to be all about rapid rollout of services — prioritized by customer demand and focused on capabilities — that differentiate in the market.

Banks Should Consider Extending SOA With BPM
BPM, and the complementary components of process engineering and SOA, enable banks to drive new revenue, become more efficient and create new services to retain customers.

IT, Data Governance Converge
Developing a common framework that defines the scope of governance, policies, IT and business responsibilities is essential to manage data effectively.

Financial Services Firms Will Need Faster Computational Power
Reinvesting in technology solutions that provide faster computational power is paramount to a firm's success.

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