Bank IT Spending and Trends: What Does 2011 Look Like?
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27 January 2011Jacob Jegher
The new year brings lots of questions, planning and decision making. IT spending is tied directly to these elements, and as in past years, we have been receiving a truckload of IT spending questions. After a rough couple of years folks are curious as to if the figures are on the uptick in 2011. The short answer is yes. The long answer, well, you will have to read the reports! Here is a quick snippet from, IT Spending in Financial Services: A Global Perspective (published earlier today):
Global information technology spending by financial services institutions is expected to reach US$363.8 billion in 2011, an increase of 3.7% over 2010. This figure is substantially higher than the lackluster 2.5% growth increase experienced in 2010. Growth rates are starting to climb across most regions and IT products and services should grow to US$393 billion by 2013, a 3.9% CAGR from 2011 to 2013.We have published a series of 5 reports this month that are relevant to all organizations: - IT Spending in Financial Services: A Global Perspective - IT Spending in Banking: A North American Perspective - Top Trends in Corporate Banking: Asia, Europe, and North America - Top Trends in Retail Banking: Asia, Europe, and North America - Top Trends in Payments 2011: A Year In Review Happy reading!