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Financial Insights Examines Annual Top 10 Strategic IT Initiatives for Financial Services

FRAMINGHAM, MA – JANUARY 12, 2006 – Leading independent research and advisory firm, Financial Insights, today announced the release of their annual reports identifying the Top 10 IT initiatives that will have key strategic importance for capital markets, insurance, risk management and banking (retail and corporate banking) organizations worldwide in 2007. The reports identify and describe these initiatives, examine why they will have an impact in 2007, and explain why they should be on the minds of business and technology executives at financial institutions. Four of the strategic initiatives for banks are detailed below.

Top 10 Initiative Description

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Banks across the globe continue to invest heavily

and consider strategic options regarding security

and fraud management tools and practices to

strengthen control of non-public consumer and

corporate information, primarily on the heels of

such mandates as capital and operational risk

management, and stronger customer authentication.

Deceitful online and offline schemes target banks

from both the outside and the inside.

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Core Banking

The prominence of core banking is high among

developing nations and mature economies, but with

two very different approaches. In the mature

markets of North America and EMEA, banks are using

tactics including middleware wrappings, SOA and

workarounds to achieve scalability, flexibility and

agility without replacing the core technology. Asia

Pacific has seen significant resources expended on

this strategic initiative critical within the region.

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Profitability and Performance Management

The foundation of all good performance management is

reliable financial information that is generated

automatically, on a timely basis, and reconciles

with operational transaction systems, providing

clear accountabilities for profit and cost centers.

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Integrated Financial Supply Chain

Banks should develop viable measurement tools that

cover financial targets, customer expectations,

business processes, technology, human capital —

and their relationship to return on capital.

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Source: Financial Insights, 2007

"Banks recognize the potential high value of IT investment, but they also see that this high potential has not been realized. Institutions now are much more demanding in the way they allocate capital for investment and their requirement to deliver performance – one way or another, " stated Jeanne Capachin, vice president of Research at Financial Insights.

Financial Insights' Top 10 strategic IT initiatives integrate a mix of actionable, present-day value propositions that have either mandatory or high payoff potential with initiatives having future payoff potential for mainstream institutions.

Financial Insights hosts webcasts throughout the year for clients to provide essential guidance as they plan their strategic IT investment initiatives. The Top 10 broadcasts are open to press and media as well as subscription clients of Financial Insights. All others may join our pay-to-view program. To register please visit:

— January 18, Asia/Pacific Banking, 1:00 pm Singapore, Douglas Jaffe and Michael Araneta

— January 18, Global Insurance, 10:00 am US Eastern, Barry Rabkin

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