Financial institutions in ASEAN are looking to drive their efforts to provide services digitally over mobile, capitalising on a briskly emerging middle-class population that will grow from 190 million in 2012 to an estimated 400 million by 2020.
Source: Business Times (Singapore)
In terms of specific digital technologies that CIOs expect to have the most potential to transform their organizations over the next five years, the top three were advanced analytics, Internet of Things (IoT) and digital security.
Source: Network Asia Staff
1 million cyberattacks targeted online lending transactions throughout 2016, and this number will continue to grow in 2017. The total potential loss value of these transactions globally is estimated at US$10 billion.
The number of people who have switched to mobile banking apps to manage their finances has boomed across Asia over the past few years. Figures doubled between 2011 and 2014, with this trend set to rise to 1.8 billion users by 2019, the main driving force being Southeast Asia.
Source: Asia Times
Worldwide spending on information security is expected to reach $90 billion in 2017, an increase of 7.6 percent over 2016, and to top $113 billion by 2020. Spending on enhancing detection and response capabilities is expected to be a key priority for security buyers through 2020.
Source: Networks Asia
The rapid evolution of technology toward mobile computing, the internet of things (IoT) and cloud is serving to dramatically improve interactions between people and business, increasing transactional efficiencies and enhancing the customer experience while simultaneously reducing costs.
Source: Security Asia
Cybercrime attack levels in Asia Pacific are growing at a rate of 35% year on year.
60 percent of banks see the need to invest in new customer-facing technologies in order to spur growth
IT and business leaders must collaborate in 2017 and beyond, to ensure that identity and access management is the cornerstone of a successful digital transformation.
Source: Computer Business Review