CIOs plan to shift top business priorities away from cost reduction and toward business agility and operational efficiency in 2010, hoping to take advantage of new opportunities.
A new report from Aite Group, LLC looks at capital markets firms’ planned technology efforts and spending for 2010. Based on surveys of 30 CIOs (or like equivalents) at capital markets firms worldwide, conducted by Aite Group with promotional support from Wall Street & Technology magazine, the report also discusses the stakeholders directing these decisions and how they plan to focus on infrastructure.
The overall top business objective for 2010 is business agility, followed closely by operational efficiency. This represents an important change from 2009’s business objective roadmap, which was dominated by cost reduction. Aite Group expects 2010 to be filled with emerging opportunity: New markets are embracing electronic trading, firms are opening their doors to new asset classes, and retail firms are changing their sales and service offerings, in some cases rebranding their efforts.
"While new opportunities are expected in a multitude of financial services segments, technology development will generally include three key elements: performance, usability and workflow," says Adam Honoré, research director with Aite Group and author of this report. "CIOs are keeping these three elements top-of-mind when reviewing their business objective roadmaps for the year ahead. By maintaining this focus, they hope to reduce their operational risk through better business processes."
This 25-page Impact Report contains 23 figures. Clients of Aite Group’s Institutional Securities & Investments and Wealth Management services can download the report by going to aitegroup.com
