Our sister publication, Bank Technology News, profiled its IT spending forecast for 2011. The 11-item list includes:

1. Chris and Barney Regulatory compliance is always a large IT outlay, but the politics of the recovery will make tech that helps banks follow the new rules a goldmine for GRC providers. The Dodd-Frank law is just one of many regulatory changes-RESPA, Basel III and new credit and debit card rules are also on tap-requiring banks that do business in the States to collectively spend billions on data mining, account aggregation, risk management and reporting technology. And the possibility of bank exposure to Wiki-leaks style risk will only up the ante in the months to come. The regulatory burden will lead to a boost in data integration and formatting tools, since Dodd-Frank will add more agencies that will request greater amounts of data, but do so in a manner that's not standardized among agencies. Additionally, business intelligence software that can allow a real-time view of progress will get attention. "It's not just about the amount of risk exposure, but providing a view as to how an institution is complying with new requirements," says David Wallace, global financial services marketing manager at SAS.

Register or login for access to this item and much more

All Information Management content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access