Retail banks will spend $118bn on IT equipment this year, reports Ovum – 3.4% up on 2012.
The spending shows greater optimism in the banking community, says Ovum, and will be used to support mobile banking growth of 4% in Europe in 2013, rising at a CAGR of 6% between 2013 and 2017.
Compliance issues are the big driver of banks’ IT investment with credit risk management and data privacy the leading foci of IT spending.
Source:
http://www.electronicsweekly.com/Articles/2013/02/05/55496/banks-to-spend-118bn-on-it-in-2013.htm
