That the market for risk software for the banking industry has never been stronger is a bit ironic, given that the stagnant economy and regulatory uncertainty continue to paralyze banks' efforts to take the very risks they're paid to take on loans to businesses and consumers.
But banks are expected to spend 7% more on risk technology this year than they did last year, according to IDC Financial Insights. The firm predicts that worldwide financial services information technology spending on risk management technology will exceed $74 billion by 2015. The analysts expect IT spending on risk management to top 15% of total IT spending in financial services in 2012.
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