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January 9, 2015updated 23 Aug 2016 9:08am

Business analytics fail to hit the mark with US bankers

Aite Group survey reveals North American bankers are more disillusioned with analytics than EMEA or Asia-Pacific peers.

By James Nunns

A global survey of 141 senior banking IT Executives highlights the varying levels of satisfaction in regards to analytics technology.

The Aite Group report reveals that 76% of North American bankers are dissatisfied with business analytics tools, whereas just 47% of EMEA bankers and 32% of Asia-Pacific bankers are dissatisfied with the same tools.

David O’Connell, senior analyst in Wholesale Banking at Aite Group said: "Although banks across the globe all gather deposits, book loans, and manage risk, our research shows that they vary widely in their approaches to technology."

"Such differences are driven by local cultures, competitive pressures, and varying experiences during and following the recent global financial crisis."

Positive attitudes towards technology are more likely to be found in Asia-Pacific, where the research suggests bankers are far more likely to invest in technologies.

69% of Asia-Pacific respondents view technology as a source of competitive advantage, compared to just 43% of North American bankers.

David O’Connell concludes: "Although banking is a straightforward business, each geographic region has widely varying conditions that give rise to different customer preferences, credit issues, and operational threats. Banks in North America; Europe, the Middle East, and Africa; and the Asia-Pacific all engage in similar activities but approach technologies differently."

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