Strategic IT management in Brazilian banks

Success in the competition in the banking business is related to the development of core competencies, strategic alliances and long term strategic planning. Significant changes in the Brazilian financial sector have required banks to continually reinvent their business supported by adequate strategies and resource management. This paper, based on a survey of Brazilian banks, shows that the effectiveness of IT management is strongly related to the alignment of human resources management and formalization of the planning process. These variables influence their economic performance and ability to "compete for the future". The survey results are useful in establishing the proper alignment of strategic IT management with corporate management and emphasize the importance of human resources and formal planning in this process.