it trends on islamic finance
TRANSCRIPT
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By Ahmed Buhazza
IT Banker
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Banking Historical View
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Three Dimension of Change
TechnologyChanges
Faster speeds and
mobile Content is eternal
and sharable
New tools makeeveryone
a content creator
Media is modular
BehavioralChanges
Everyone has a
voice New communities
are forming
Expect acustomizable,personalized withhigh standard
experience ontheir terms
Time shifting
Information isfreeInformation
overload
Business ModelChanges
Fragmenting
channels Traditional media
is being absorbedand changed
Loss of controlover brands
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3 Critical Trends Shaping the future
25% ofbanking
offerings
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Islamic Finance Challenges
Limited Allocated Budget/IT Investment
Lack of single set of Islamic Banking Standards
Limited Core Solution Offerings Strong Islamic module/customization in Conventional system
Mature Pure-play system
Lack of specialized competent talents
Fragile overall infrastructure
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Technological future Competition
Religion-based banking, equity trading, mutual funds, financial
services and so forth (including Islamic banking, takaful insurance andthe Dharma Global Index) require new applications, products andheavy software customization, thus creating a role for religion domainexperts.Asheesh Raina, principal research analyst at Gartner
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TechnologyRevolution
FinancialTechnologyFocus &
Direction
Islamic
FinanceSpecialty
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Sharia-compliant finance - Technological
Strategic Focus for 2013
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Core Banking Products
Key Banking Modules
Front Office Operations
Customer Relationship Management
Financing & Collection Operations
Financial Accounting & Reporting
Trade Finance Operations
Investment Banking
Treasury Operations
Cash Flow Monitoring
Business Intelligence
Risk Management Reporting
Delivery Channels & Mobile Banking
Systems Interfaces & Integration Solutions
System Administration & Support Applications.
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[ as at 28 May 2012 ] [ as at 28 August 2011 ] [ as at 20 March 2011 ]
Temenos** Temenos Temenos
Silverlake Axis Oracle FSS Oracle FSS
Oracle FSS **(Oracle FinancialServices Software)
Silverlake Axis Infosys
Misys** Misys Path Solutions
Path Solutions* Path Solutions ITS (International Turnkey
Systems)
Infosys** Infosys Misys
TCS FS** ITS (International TurnkeySystems)
TCS FS
ITS *(International Turnkey
Systems)
TCS FS Silverlake Axis
FIS *(Fidelity) FIS (Fidelity) FIS (Fidelity)
BML Istisharat * BML Istisharat BML Istisharat
Source: inntron.com
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2012 Banking Technology Trends Focus
1. Convergence of Mobile and Online Technologies
2. The Rise of Business Process Management
3. Goodbye Email, Hello Message Center
4. The 'Tabletization' of Banking and the User Experience
5. Security increasingly is A Moving Target
6. Integrating Toward a Brave, New Post-Channel World
7. Pushing Self-Service Products to Generate Revenue
8. Reaching the Next Level of Mobile Evolution
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The Bankers Technology Awards 2012
Best Green IT Initiative by a Financial Institution
Best Industry Infrastructure Initiative
Best Internet Banking Services Provider
Best Payments System Initiative
Best Security Initiative
Best Trading Platform or Venue
Best Transaction/Wholesale Banking Initiative
Best Use of IT in Retail Banking
Best Use of IT in Investment Banking
Best Use of IT in Wholesale/Transaction Banking
Best Use of IT for the purposes of regulatory change Best Use of Mobile Technology in Financial Services
CIO of the Year
IT Team of the Year
Outstanding Contribution by a Female in Financial Technology
Outstanding Individual Contribution to the Industry
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Top 10 Ten Trends 2013 (Gartner)
Trend 1: MobileDevice Battles
Trend 2: MobileApplications andHTML5
Trend 3: PersonalCloud
Trend 4:Enterprise App
Stores
Trend 5: Internet
of Things
Trend 6: Hybrid
IT and CloudComputing
Trend 7: StrategicBig Data
Trend 8:ActionableAnalytics
Trend 9: InMemory
Computing
Trend 10:IntegratedEcosystems
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Anything
Any information that
matters
Everyone
Leveraging human
networks
Anywhere
Delivery Platform
that allows people to
come together
anytime, anywhere
Anytime
Access anytime we
need it
Convergence of these forces: Entering an Always on era
Mobile
CloudInformation
Social
Always on
Key Technology Drivers (Always on)
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Clouding Banking
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Mobile Banking
J2ME
SMS
WAP
Mobile devices
SMS
gateway /
SMSCs
3G/GPRS/I
nternet
Mobile Banking
Application
Core Banking
System
Outsource / bank premises bank premises
Multiple mobile
access method
Connector using TCP
Socket, HTTPs, etc
Payment
Aggregators
Other banks
Visa, Master,etc
3
rd
parties
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Pioneered
IT Strategy
Culture ofInnovation
Budget
Always on
Competent
Team
ChangeManagement
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