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RESEARCH

ANALYSIS
Kapoor further highlights, “Institutions must understand
TRENDS
that having the cutting-edge technology, best solutions,
and skilled talent will not suffice to seal their success.
They also need to put in efforts and investments in
fixing key challenges – issues related to integration,
processes, security and governance, infrastructure
readiness, and organizational structure and culture – to
expand the automation footprint within their
organizations. Moreover, we do believe that integrated
intelligent automation will bring the next level of value
addition, but to achieve this value, it is critical to break
down the operating silos that are still quite prevalent
within institutions.”
governance, and post-deployment support as core
tenets; intelligence powered by AI technologies Despite the hype and curiosity that led to significant
and innovative tools; and availability of talent and growth for many software vendors and service
strong ecosystem support. providers, IDC believes that it is important, now more
than ever, to cut through the noise. Most of the
• Ready propositions that offer intelligent automation automation deployments in Asia/Pacific financial
solutions for the financial services industry in Asia services institutions currently lack scale. A siloed,
Pacific are offered by the following automation piecemeal approach to automation is still more
service providers: Accenture, Avanade, common than an enterprise wide strategy. Moreover,
Capgemini, Cognizant, Mindfields, Pricewater- many early adopters that tried to instill cognitive
houseCoopers (PwC), Tata Consultancy Services intelligence in the automation of their business
(TCS), and Tech Mahindra. processes have not been able to deliver steady and
accurate results or justify ROI from these deployments
• Some of the key trends and notable market due to many challenges. This current state exemplifies
developments in the Asia Pacific financial services a massive untapped opportunity for institutions, as well
industry in 2020 are: rapidly growing demand for as for the software vendors and service providers.◊
intelligent automation and AI; increasing focus on (Source: IDC)
achieving scale; deployment of hybrid and flexible
workforce; changing organizational structures with By MediaBUZZ
a demand for new roles and skills; and rising
efforts in building and retaining automation talent.

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