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Industry Research

Publication Date: 8 December 2009 ID Number: G00173310

Roundup of Banking and Investment Services Research,

Alistair Newton, David Furlonger, Peter Redshaw

This roundup provides IT leaders with a hyperlinked menu of banking and investment
services IT research published from October 2008 through September 2009 on This research is aligned and presented similarly to our 2009 Key Issues,
using the run, grow and transform methodology.

© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved. Reproduction and distribution of this publication in any form
without prior written permission is forbidden. The information contained herein has been obtained from sources believed to
be reliable. Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although
Gartner's research may discuss legal issues related to the information technology business, Gartner does not provide legal
advice or services and its research should not be construed or used as such. Gartner shall have no liability for errors,
omissions or inadequacies in the information contained herein or for interpretations thereof. The opinions expressed herein
are subject to change without notice.

Gartner’s Industry Advisory Services research teams have embraced a three-pronged research
theme for 2009. All of our industry research Core Topics align with one of three strategies aimed
at helping IT leaders in banks and investment services firms to:

• Run their businesses and current IT effort efficiently, effectively and economically

• Grow their businesses as a whole, and increase the impact of technology on banking
and investment services activities, business processes, and stakeholders

• Transform their businesses

We introduced our 2009 banking and investment services research agenda in "Key Issues and
Research Agenda for Banking and Investment Services, 2009." In that research, we mapped the
run/grow/transform Key Issues to the Core Topics of customers, operations, payments and
executive decisions.

3Q09 Research That Helps Banks and Investment Services

Firms Run Their Businesses
"IT Professional Services Providers to Financial Services Firms in Germany: A Heterogeneous
Germany's financial services providers continue to be a big target (€7.5 billion in 2009) for a wide
range of small and large, local and international IT professional service providers. Many of them
claim to have special know-how in certain areas, such as payment processing, but financial
services providers need to make sure that they select the right partner to provide deep industry
expertise, highly skilled resources and flexible pricing models.
"Fixing the Corporate Action Data Problem: What Is Coming, and What to Do Now"
The processing of corporate actions — the announcements of any event that brings material
change to a company and affects its stakeholders — is high-risk, high-cost and inefficient in the
financial services industry. Issues with corporate action processing are escalating due to
increasing globalization, the volumes of corporate actions that must be processed and a
decreased tolerance for operational risk. Banks will receive incremental value as hurdles are
overcome and standards are introduced.
"International Collaboration of Regulators Will Impact Financial Services Providers"
Regulators worldwide have concluded agreements to work more closely together. Cross-border
agreements will affect the business and IT of financial firms. Examples include further
standardization or risk management frameworks. The next generation of international regulatory
agreements is likely to go beyond information exchange and include more-formal compliance
provisions. Risk managers must prepare to more tightly coordinate and integrate their risk
management and compliance activities.
"Technology Implications of Strengthening Core Market Regulation in the U.S."
U.S. President Barack Obama has called for a "sweeping overhaul of the financial regulatory
system," including the expansion and standardization of regulatory control over all aspects of the

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© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved.
industry that have "innovated" faster than their regulators. Financial firms in the U.S. should
prepare for intensified supervision with expanded, highly granular regulatory reporting — and
expect demands for full transparency, an easy ability to audit, and strict standardization of
contracts, policies and procedures.
"Survey of Global Investment Managers: Data Management Priorities in Investment Management
Investment management firms around the globe face unconsolidated and duplicate data in their
organizations that cause inefficient operations and that can contribute to credit, market and
operational risk issues. Surveyed firms rank data management as a high priority. The control and
management of spreadsheets are key concerns. Most firms are addressing data management
issues, but some industry groups are more advanced, while others lag behind.
"Four Lending Innovations That Will Improve Customer Centricity"
Maintaining too rigid a focus on internal operations, to the exclusion of external factors, can
damage a bank's viability. Becoming more buyer-centric is especially critical in lending. Process
automation is no longer an innovation but rather a "must have." Providing customers with process
visibility is the next step. Pricing transparency will lead to the need for lenders to flex pricing.
Profitability transparency will require lenders to focus on customer-level profitability, not product-
level profits.
"How IT Can Improve the Efficiency of Banking and Investment Services Firms"
The cost/income ratio is a useful indicator of efficiency for financial firms, but it should not be
relied on as the sole metric. Few banks have increased their efficiency in the last five years, and
the preponderance of fixed-cost platforms will hinder such efforts in many countries. Firms should
focus more on how IT can raise and sustain profitability and less on IT as a cost-cutting device.
Improved support for new activities will be more beneficial for overall efficiency than automating
existing activities.
"Survey of Global Investment Managers: Trading and Investment Priorities and How They Are
Affecting Technology Decisions"
The highest priority of investment firms is automating trade compliance. Regulatory concerns and
preparation for future legislation are critical issues, as are addressing institutional client concerns
for increased fund transparency. Many firms still rely on manual processes, such as telephone
and fax data transfer; eliminating them is essential. Firms are also burdened with having to
address more-basic trading and operational foundational issues before being able to layer
sophisticated client access and reporting.
"With, Intuit Aims to Offer Range of Financial Brands"
In buying consumer finance website, Intuit will support a broad range of consumer
financial services. These include conventional online banking and electronic account services, as
well as consumer personal financial management. This approach provides access to many
consumer segments, but requires Intuit to balance conflicting influences from consumer and
financial enterprise target markets as if it were walking a tightrope. Gartner sees potential perils if
Intuit leans too far to either side.
"Technology Implications of Providing the U.S. Government With Tools to Effectively Manage
Financial Crises"
U.S. regulators believe their ability to deal with the recent financial crisis was complicated by the
lack of a statutory framework regulating innovatively structured financial firms; no single regulator

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© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved.
was responsible for the system as a whole. Legislative proposals would establish a new bank
type, the Tier 1 financial holding company, which would be subject to more stringent capital,
activities and liquidity standards. Bank technologists should start planning for this potential now.
"Vendors Support Different Starting Points for Building a Payment Services Hub"
There are three basic categories of payment services hub software vendor — payment
specialists, financial services software providers, and multi-industry or industry-neutral vendors.
Key areas of difference include vendor viability, functional areas, depth and breadth of vendor
expertise, entry point into the bank, and industry commitment. Each type carries its own strengths
and weaknesses, which must be aligned with the bank's strategic vision, capabilities and risk
"Ajax and Rich Internet Applications Are Important Tools for Brokers, but Not a Panacea"
These technologies are important tools in producing the types of robust end-user experiences
that retail brokerages need in a changing competitive environment. End-user expectations for
brokerage websites are determined not just by what other brokers offer, but also by other
consumer-oriented websites, such as from retail, media, search and other sectors. Financial firms
adopting these technologies must focus on the end-user experience before choosing specific
tools or vendors.
"Magic Quadrant for Operational Risk Management Software for Financial Services"
Many financial firms continue to view operational risk management (ORM) as a back-office or
compliance issue, related only to managing controls and encompassing IT risks that are the
purview of internal auditors. However, operational risk extends beyond mere IT activities and pure
policy compliance. Vendors are starting to recognize the importance of the synergy between
ORM and governance, risk and compliance market segments, and are beginning to merge or
enhance functionality to include aspects of both markets.
"Key Issues and Research Agenda for Banking and Investment Services, 2H09"
According to a 2009 Gartner survey, more than 75% of banks intend to either maintain or
increase current spending on IT resources in the realms of externally facing services, internal
operations and payments. Our research agenda for banking and investment services for the
remainder of 2009 will reflect the twin focus on improving efficiency now while planning new
investments and transformational initiatives for the future.
"BPO for Analytics in Banking and Investment Services"
Despite the current resurgence of traditional, transaction-based business process outsourcing
(BPO) offerings in the banking and investment services sector, there is some activity (and a lot of
planning) to support the long-term trend toward more use of knowledge process offerings, such
as analytics BPO. This is an area that is mistakenly treated as a whole when it can be segmented
into offerings for cards, customer relationship management, capital markets, corporate and
lending areas.
"SEPA and the Rise of Faster Payments: The Retail and Corporate Implications"
With increasing pressure to deliver real-time data and information — particularly in light of such
innovations as the Single Euro Payments Area — the payment industry needs to review its
approach to delivering faster payment systems. Ongoing investment to modernize payment
infrastructures and speed up clearing cycles must ensure that real value is delivered to external
customers and those internal business divisions using the bank's payment systems.
"Drivers of Commercial Customers' Banking Relationships"

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© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved.
Bank IT and business leaders who seek to escape the trap of commodity commercial services
should focus on what their commercial customers value — for example, functional capabilities,
the service quality of cash management services, information consistency and better pricing. This
will require banks to take a "process banking" approach, which links the information flows among
diverse, bank-supplied financial components and customer structures.
"Card Management Software Is on a Path to Extinction"
Many banks and processors are re-evaluating all aspects of their card payment operations,
including applications, processing centers, strategic sourcing and network brand choices. That's
because industry consolidation and changing consumer spending habits are accelerating the rate
of change in card payments. Although investment in card management software has continued,
banks should avoid further spending on such software that does not support the principles of the
payment services hub.
"Technology Implications of Strengthening Financial Services Consumer Protection"
U.S. President Barack Obama has called for establishment of a cross-industry consumer financial
protection agency that would regulate all providers of credit, savings, payment and other
consumer financial products and services in the U.S. Such an agency would enforce new and
existing regulations requiring the provision of concise and clear information by retail financial
firms, as well as protection from unfair and deceptive trade practices. Bank technologists should
plan for this potential agency now.
"Technology Implications of Requiring Stronger Financial Services Supervision"
President Obama's call for a sweeping overhaul of the financial regulatory system, if enacted,
would affect most bank actions. The proposals will require enhanced speed, transparency,
improved analytics and reporting, and worldwide compatibility of risk management and
compliance efforts. Critical technology improvement areas included enterprise governance, risk
and compliance platforms, and spreadsheet controls. Bank technologists should prepare for this
potential change.
"Stomp on Commercial Payment Fraud Before It Grows"
A spike in commercial payment fraud in late 2008 was a warning that financial crime increases in
times of economic disorder. Check fraud is a big issue and the most common form of commercial
payment fraud in the U.S. Current methods and systems to detect and deter commercial payment
fraud work acceptably. Bank leaders should ensure that zero tolerance for fraud is a central tenet
of their corporate culture. Inaction will have an impact beyond fraud; reputation risk will increase if
this problem is not addressed.

3Q09 Research That Helps Banks and Investment Services

Firms Grow Their Businesses
"Social Networking for Commercial Banking: An Opportunity and a Challenge for Banks"
Technology and innovation resonate with commercial bank customers when they help customers
more effectively manage their financial positions or grow and build business relationships. Social
media have that potential. However, there is little interest among banks that are not already using
these tools. The challenge for banks is to make these capabilities an integral part of their services
where wanted, and to determine how to leverage these services to increase bank revenue from
commercial customers.
"The Slow Path to Growth for Financial Planning Solutions in Europe"

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© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved.
The market for financial planning tools is well-established in North America, but still relatively
immature in Europe. A number of in-market vendors for these tools have emerged, principally in
Germany and the U.K. Several vendors have taken on the challenge of providing cross-country
functionality, which will increase adoption in new markets. Tools that support client acquisition,
needs analysis and long-term investment planning are crucial in an increasingly competitive
environment for retail financial services.
"Why Banks Must Start Modernizing Their Payment Systems Now"
Payment system modernization decisions are far from tactical. A survey of European banks
reveals that they are all about supporting long-term differentiation, which is why banks must start
these transformational projects. Retail payment system portfolio management is essential to
support more-complex retail client requirements. Payment providers that participate in the initial
payment system modernization will derive a strong competitive advantage for their strategic
outsourcing operations.
"Banks Need to Stop Missing Chances to Innovate"
In situations where organizations are under great business stress, we know from research that
many of the surviving companies innovate strongly to pull themselves out of difficult market
conditions. Banks need to learn these lessons and ensure that they do not miss opportunities to
innovate outside their business models. This research highlights a potentially missed opportunity
for banks, as well as the need to apply different risk and assessment criteria when looking at new
business opportunities.
"Bank Branch of the Future: Which Deployment Model Should You Use"
Banks continue to invest in their branch infrastructure, but different investment models support
different branch strategies. Contrary to many predictions, the role of the branch in the overall
banking enterprise is increasing in importance, and banks need to react appropriately to reflect
this growing importance. Self-service and automation are key to many new banking models, but
technology must be deployed intelligently alongside more-empowered staff and streamlined
business processes.
"Case Study: Offshore Testing for the New Equiduct Exchange"
Testing is often treated as the "poor relation" in the IT development cycle, but Equiduct (one of
several new challengers to incumbent stock exchanges in Europe) demonstrates how
professional quality control can be a vital asset. Working with an offshore testing company had
the obvious cost advantages to help keep the testing on budget. But this project also needed
extensive technical skills and flexibility to properly test a new and complex regulated market
trading system.
"Gartner Innovation Survey: Culture and Executive Buy-In Essential to Successful Banking
Because innovation is a human activity, banks must create a corporate culture that encourages
and rewards innovation. This is essential to surmount the barriers to innovation success —
principally the resistance to change among employees and senior management. To understand
how banks were generating ideas, achieving success or failure at implementation, and achieving
business value, Gartner surveyed bank executives on how and why they introduce innovation
"Gartner Consumer Survey Can Help Banks Decide If FSNs Are Friends or Foes"

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© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved.
Financial social networks (FSNs) attract a small percentage of financial services consumers to
their sites but use social-media technologies to provide personalized views of their accounts.
Although FSNs are not yet clear competitors, retail bank business and IT strategic planners
should view FSNs as indicators of the online banking features that appeal to younger, Internet-
savvy consumers, and potential sources of leads and competition.
"Consumers Trust Banks as Payment Providers: Now Is the Time to Think Beyond Product Silos"
Consumers trust their debit card and credit card providers. That is a foundation to demonstrate
value and regain trust for the rest of the bank's products and services. Payment systems have
become more fundamental to support client requirements during these tough times. To do so,
banks will have to help clients better control their spending, think across product silos, reward
customers according to the extent of their relationship with the bank and introduce value-added
services that customers want.
"Take a Flexible Approach to Implementing Online Trading"
The changing nature of investors means that incorporating online account management — and
eventually trading — into customer-facing systems is no longer optional for retail brokers. It is no
longer necessary to build an online trading solution in-house. Firms can obtain it from their
correspondent clearing firms or through independent technology providers. Vendors offer
solutions that are flexible, customizable and well integrated to other service providers and

3Q09 Research That Helps Banks and Investment Services

Firms Transform Their Businesses
"Using Social Networking and Personalization to Transform Your Payment Card Market
Social networking and customer personalization of products and services can, together, transform
card issuing. A shift toward more heavily personalized products and services means that banks
must change the way they issue cards and must enable customers to actively define their own
products. Card issuers willing to innovate have the opportunity to rebuild customer trust, drive
revenue, and retain and attract customers at a time when these factors are essential for survival.
"Hype Cycle for Banking and Investment Services Operations Technologies, 2009"
Despite the financial crisis, many banks are moving forward with transformational IT initiatives in
their operations. These large-scale and complex projects use foundational technologies that will
impact other projects, especially enterprise projects that may prove impossible to complete on top
of the legacy architecture. Redundant applications, processes and data impede risk
management. The recent failure by regulators and banks to manage risk calls for transformational
business and IT initiatives.
"Hype Cycle for Banking and Investment Services Customer Technologies, 2009"
Although many large financial firms were rightly focused on survival as the financial crisis
unfolded, their inability to devote resources to innovation and emerging technologies is a hidden
danger. Unconventional competition and smaller organizations that have been less affected by
the crisis will be using this time to gain strategic advantage. Banks must start focusing on the
future. That requires CIOs to re-examine dormant initiatives and begin selective reinvigoration
and experimentation.
"Hype Cycle for Financial Services Payment Systems, 2009"

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© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved.
Transaction banking is back in fashion. Payment operations, which weren't very attractive during
the age of investment banking, are part of the "back-to-basics" strategy of many financial services
firms. They might not deliver the high returns of investment portfolios, but transaction banking is
profitable and critical to strengthening corporate relationships. Responding to clients'
requirements will demand that banks achieve stronger integration between payment systems and
cash management services.
"Magic Quadrant for International Retail Core Banking"
International retail core banking systems are increasingly the focus of banks searching for
competitive advantage across multiple geographies. Banks seeking opportunities to build capital
through innovative deposit-taking strategies, as well as the ability to reduce operational costs and
decrease product time to market, need to reassess their current core banking technologies' ability
to meet these shifting priorities. This market is in transition, and banks will find a changed
vendor/product search process.

Gartner Banking and Investment Services Research Published

From June 2009 Through October 2008
To provide our clients with a "one-stop shopping" ability to access recent Gartner research
reports, we list here all research documents on topics of interest to banking and investment
services IT leaders published from June 2009 through October 2008.

Second Quarter, 2009

"Survey of North American Asset Managers: Order Management Systems"
"The Sunset of Base24: A Wake-Up Call for Banks' Retail Payment Operations"
"Creating Strategy in Financial Services"
"U.S. Financial System Regulatory Overhaul Brings More Scrutiny"
"Survey of North American Asset Managers: Algorithmic and DMA Trading"
"Data Integration Vendors for Banks: CDI or MCI?"
"Banks Worldwide Must Prepare for Civic Bankruptcies"
"Banks Must Use External Loss Data for Effective Operational Risk Management"
"XBRL: A Tool for More-Effective Risk Management"
"Ethics Management Resources for IT Leaders, 2009"
"MarketScope for Multiregional Card Management Software"
"Trade Finance Vendor Scan"
"Spreadsheet Controls Need a Boost"
"'Swine Flu': Lessons in Pandemic Preparedness From the Financial Industry"
"'Swine Flu' Means Test Transaction Document Recovery Plans Now"
"The 'Swine Flu' Is a Reason to Plan, Not Panic"

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© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved.
"How the Business Continuity Management Professional Can Survive the Worldwide Economic
"Gartner for IT Leaders Overview: The IT Risk Manager and Chief Risk Officer"
"Map Key Risk Indicators to Key Performance Indicators to Support IT and Enterprise Risk
"FIS/Metavante Deal May Boost Prices in Core Banking"
"Cost Cutting in 2009: Reducing the Cost of Foreclosure With Advanced Mortgage Analytics"
"The Challenges of Managing Bank IT Under Government Control"
"Bank Data Models: Success Factors for Enabling the Bank of the Future"
"Brokers Must Adapt Their Business and IT to Meet U.S. and Other Retail Investors' Changing
"Gartner Consumer Survey 2009: Top Five Online Banking Features Address Communication
and Personalization"
"Banks Must Invest in Payment Systems to Win Back Consumer Trust"
"Gartner Consumer Survey Shows That Barriers to Online Banking Use Continue to Fall"
"Evaluating Vendors' Ability to Support a Mobile Financial Services Strategy"
"How Banks Can Work in a More Transparent Ecosystem to Win Profitable Business"
"Case Study: Orbay Crosses the Starting Line"
"Broadridge Enhances Financial Social Networking for Investors"
"What's in a Payment Services Hub: Building the Next Generation of Banks' Payment
"Social Banking: It's All About the Money and Customer Focus"
"What Financial Services Firms in the West Can Learn From the East"
"Case Study: Large Bank's IT Facilitates Speedy Entry Into New Southeast Asian Market"
"Microsoft Bows to Growth of Online FSNs in Closing Money Plus"
"IT Intensity: An Overview for Banking and Investment Services"
"The Financial Market Crisis: Storm Clouds Over the Euro"

First Quarter, 2009

"Investment Management Spotlight: The Ebb and Flow of $100 Trillion"
"The Transitioning Application Landscape of Investment Management Firms"
"Asset and Liability Management Practices and Vendor Market Scan"
"SEPA: The Disconnect With Commercial Bank Customers"
"Private Banking Systems: Smart Choice or Straightjacket?"

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© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved.
"Magic Quadrant for Energy Trading and Risk Management Platforms"
"Magic Quadrant for Commodity Trading and Risk Management Platforms"
"Fix Your Own Risk Challenges; Don't Wait for the Regulators"
"Tools to Help Banks Cut New Account Fraud"
"Cool Vendors in Risk Management and Compliance, 2009"
"Cut the Cost of Occupational Fraud in Banking"
"Aligning Process-Focused Multichannel Integration Approaches With Customer Data Integration
"Sophis' Trading and Derivative Software Management Platform"
"Unbanking in the Neofrontier"
"Rethinking Risk: Lessons Learned From the Credit Crisis"
"Innovate or Incubate?"
"The Growth of the Independent Financial Advisor Model"
"Electronic Invoice Presentment and Payment Vendor Landscape"
"How Banks and Processors Can Make EIPP Services Appealing to Corporate Customers"
"Four Scenarios for Retail Financial Services in India"
"A Social Media Strategy for the Banking Industry"
"Wesabe Money Management Platform May Boost Online Banking"
"How to Get Started With an Enterprise Mobile Retail Financial Services Approach"
"Critical Considerations in Evaluating Payment Service Hub Software Vendors and Their
"It Is Critical to Plan Now for the Technical Challenges of Creating a Payment Services Hub"
"Top Industry Predictions 2009: Industries in Recession-Driven Transition"
"Strategic Technology Map for Southeast Asia Retail Banking"
"The Financial Crisis: The Need for Scenario Planning"

Fourth Quarter, 2008

"BPNs and the Buy Side: Maximizing Connectivity"
"Real-Time Market Data Distribution Systems: A Market in Transition"
"Fund Administrators, Custodian Banks and Prime Brokers as Technology Suppliers"
"XBRL Mandate on Financial Reporting Will Improve Transparency"
"The Portfolio Management System Landscape"
"New Bank-Targeted Trojan Virus via Firefox Saps Consumer Confidence"

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© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved.
"Trade Finance Must Change"
"IT Architecture: Involving the Bank's CEO and Board in Every IT Decision"
"Smaller U.S. Banks May Opt Out of Basel II Adoption"
"Financial Crisis Marks the Start of New Customer Conversations"
"It's Time to Implement Cross-Product Order and Portfolio Management Systems"
"Status Update: Algorithmic Trading Goes Global"
"Consumer Remote Deposit Capture Increases Fraud Risk"
"New International Automated Clearinghouse Rules Demand Increased Customer Information"
"Market Definition: Commodity Trading and Risk Management Platforms"
"Dynamic Data Management and SOA Enable Reuse in the Information Engine"
"Banking Efficiency Needs More Than Just Cost Containment"
"Sale of Banks' Captive Centers Set to Stall After Latest Deal"
"Grameen Foundation CEO Interview: Microfinance Battles Poverty and Also Is Profitable for
"Times of Transition Demand Immediate Action"
"Surveying the Landscape of Wealth Management Technology Vendors"
"Spotlight on Wealth Management: Preparing to Prosper in a Time of Turmoil"
"Gartner Survey: Consumers Weigh in on Multichannel Integration, Web 2.0 and Mobile Banking"
"P2P Social Lending Networks Morph Into Investment Networks"
"Findings: The Consumerization of IT Has Led to Real-Time Influence Over Bank Viability"
"What Banks Can Do When Politics Derails Offshoring"
"What the Financial Crisis Means for IT Spending Among Banks, IT Vendors"
"Engineering the Information Engine for the Information Age Bank"
"Seven Key Selection Criteria for Core Banking Selection"

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© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved.

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