After a few “tumultuous” years following the banking crisis, IT spending in the financial services industry is set to rise, according to new research from Ovum. The firm says there is a consensus across the capital markets, corporate banking and asset management that technology spending will grow between now and 2018, with overall financial markets spending exceeding $100 billion in 2018.

The increase is mainly attributed to investments in IT that drive cost-savings within the business, Ovum says. After a weak 3.7 percent increase in IT spending in 2013, this year will see an increase across the sector, with 4.8 percent global growth, the firm says.

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