Financial Insights Enters Asia/Pacific Market – Appoints Regional Research Manager and Issues Report on Wealth Management

SINGAPORE – JUNE 17, 2003 – Financial Insights, an IDC Company, today announced it is further expanding its technology research and advisory services into Asia/Pacific, strengthening its global research with enhanced local coverage on the financial services market in Asia/Pacific. Financial Insights has appointed IDC analyst Douglas Jaffe as research manager to lead its Asia/Pacific research and advisory services in Singapore and released a new report exploring wealth management in Asia/Pacific.

Douglas Jaffe has extensive experience working in the Asia/Pacific financial services market, having worked closely with banks, vendors, regulatory authorities and government bodies. Mr. Jaffe’s expertise extends across numerous financial services areas, including channel strategies, Internet banking, ePayments, CRM, IT investment opportunities and wealth management.

Financial Insights' new report on wealth management is the first in a series of reports about the development of wealth management services in Asia/Pacific. In the report, titled "Wealth Management in Asia/Pacific: Emerging Strategic Models," analysts Jaffe and Shaw Lively highlight the emergence of two delivery models – one that leverages the Internet and another that is primarily advisor-centric.

"Financial Insights is committed to providing our financial services clients not just global perspectives, but valuable regional perspectives on the technology issues impacting them today," said Michon Schenck, COO, Financial Insights. "Our recent expansion into Canada – and now Asia/Pacific with the appointment of a locally-based industry expert like Douglas Jaffe – significantly strengthens our ability to deliver the most comprehensive research within the financial services industry to help them succeed."

In addition to the new report on wealth management, Financial Insights has published several other research reports specific to the Asia/Pacific region, including many authored by Mr. Jaffe at IDC. Recent reports include:

"Dual-Interface Smart Cards: An Opening for Banks in Europe and Asia-Pacific?" – explores how dual-interface cards may give banks access to the contactless smart card market.

"How Should Local Banks Compete in the SME Sector" – looks at opportunities for banks in Asia Pacific to expand their presence in the SME Sector.

"Asia/Pacific ATM Trends" – looks at automated teller machine (ATM) trends in Asia Pacific within the broader retail banking environment.

"Asia/Pacific Internet Banking Forecast" – offers forecasts on Internet banking growth and comparisons across eight key markets in Asia Pacific.

Launched in January following IDC’s acquisition of Meridien Research in November 2002, Financial Insights offers comprehensive technology research and advisory services across the financial service industry, including:

Retail Financial Services – Led by Bill Bradway, co-founder of Meridien Research who has over 30 years of financial services experience as a consultant/researcher and a bank executive, the Retail Financial Services practice provides research and consulting services across four areas: Payment, Channels, Customer Strategies and Wealth Management. Core segments include legacy systems, core processing, technology convergence and custom

Capital Markets – Led by Deborah Williams, co-founder of Meridien Research and a well-known global expert in risk management technology,the Capital Markets practice advises clients on all aspects of risk management and trading technologies. Extensive coverage includes credit, market and operational risk, the electronic trading market and buy-side technologies. Core segments include market data, back office applications, portfolio management and technology convergence.

Corporate Banking – Also led by Deborah Williams, the Corporate Banking practice provides research and advisory services on treasury management, wholesale payments, trade finance and small business banking. Core segments include commercial lending, transaction processing and secure data delivery.

Earlier this month, Financial Insights appointed James Sharp to lead its Canadian research efforts. An Introductory briefing was recently held in Toronto to announce the regional service.

For information on obtaining Financial Insights reports, contact:

About Financial Insights, an IDC Company

Financial Insights provides independent research services to users and providers of financial industry technology. The company was formed in November 2002 by combining Meridien Research and the IDC Financial Services Advisory group. The Retail Financial Services practice offers four areas of focus: Payments, Channels, Customer Strategies and Wealth Management. The Capital Markets practice offers Trading Technologies and all aspects of Risk Management. The Corporate Banking practice covers cash management, wholesale payments, trade finance, and small business banking. Each practice delivers reports detailing new issues and challenges and uses its knowledge

to advise clients on technology related decisions. Financial Insights is an IDC Company, headquartered in Framingham, MA. Visit for more information.

IDC is a division of IDG, the world’s leading IT media, research, and exposition company.