Asiaweek Pictures David Vicary is a principal in Deloitte Consulting's financial services industry practice. The mantra goes that if only institutions' workings had been more transparent, if only they had disclosed more information, then the horrendous levels of non-performing loans that plague Asia's banks could have been spotted and dealt with. Because they just don't have the data. If having the right sort of information was important in the past, it is vital today if Asia's bankers are to remain competitive. The need to rebuild capital bases means having to understand returns on each line of business.
Tougher competition means the ability to price products and services properly is crucial.
That senior bank executives don't have the information they need to make decisions might seem surprising given the huge investments banks have made in information technology systems over the years. Quantity does not mean quality. Nor does data mean knowledge. Only when staff try to use this information can anyone discover whether or not the right data have been collected or whether they are accurate. What Asia's banks need is timely, accurate information on a whole gambit of areas.