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Bank IT Spending: What Does 2010 Look Like?

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14 January 2010

Comments

  • Agree with you Jacob that although 2010 has the potential to be the start of a turnaround, there is still plenty of uncertainty and we are not completely out of the woods. In fact this has been validated in a recently concluded survey we conducted with CFOs, who said that cost cutting continues to be THE most important agenda item for them in 2010.

    Thanks,

    Anurag Mehrotra

  • Anurag is probably right that there is an emphasis on cost cutting, and I would have to agree. Point Enterprises' software deals with optimizing staffing levels in branches, and there has been a complete turnaround in the level of interest in the Q4 2009 and continuing into 2010. During the first part of 2009 banks may have needed to increase efficiency, but they were very reticent to start any new initiatives. Now there is a high receptivity to initiatives that result in cost savings, particularly if the payback period is short.

    David Basri