Retail banking tech spending trends reflect multiple challenges
Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
10 November 2022
click here to read more
Celent surveyed senior retail bank IT, product and technology executives from 36 countries. Combined with additional industry inputs, the data show: The global retail banking industry is on target to spend $250 billion on technology in 2022, an increase of 4.3 percent from 2021 and 8.6 percent from 2020. The 2022 spend will increase by 5.2 percent to reach $263 billion in 2023. IT spending by retail banks is projected to climb to $308 billion in the coming five years representing 4.6 percent annual average growth from 2022 to 2027.
News article details
Asia-Pacific, EMEA, LATAM, North America