The information age has put more pressure on banks to adopt technology and innovation to cope with the influx of data and rising security challenges, but banks say the focus should be on building a robust system first.
Google Finance, which is funded by advertising, already provides real-time share data from the New York Stock Exchange, the Nasdaq and exchanges in China and India.
Avaloq and SOFGEN have agreed to provide offshore engineering resources from a centralised and jointly managed facility based in Manila, Philippines where 30 specialists deliver standardised software development.
While the total value of electronic transactions almost doubled in 2010-11 compared to the previous year, the period between April and November 2011 saw transactions increase 72% in value terms over the same period of the previous year.
The crisis of 2008 and the economic recession following it affected the perception investors have about wealth managers and financial services providers, leading to lower levels of trust. Therefore firms have to be more proactive and dynamic with their cu