It is about how one operationalises the strategy and subsequently capitalizes on market opportunity. It is only at the lower levels of framework that the IT governance is about decision rights, compliance with regulations, setting standards, etc.
And while I do not intend to minimize the importance of these operational elements in the IT governance, I do feel that if a bank’s IT governance is primarily about being compliant and secondarily about business execution, then banks’ business is not likely to benefit strategically from the IT. One would then miss out on the larger opportunity that IT governance offers.