27 November 2014

Financial services IT spending on the up - Bloomberg survey

23 May 2011  |  6927 views  |  0 cash

More than three quarters of financial services industry technology executives expect to increase their IT spending over the next year, according to a Bloomberg survey which also suggests a shift to greater use of hosted services.

The poll of more than 100 CIOs and other IT executives shows 76% plan to increase technology spending over the next 12 months, 17% are cutting investment and seven per cent keeping levels steady.

Over half of respondents expect to shift more of their overall capital expense to managed services, compared to 33% who do not and 12% that don't know.

A big spending area recently has been regulatory and compliance, with 84% increasing the money they devote to systems in the past two years; only five per cent have seen a decrease and 11% no change.

When asked what infrastructure investment areas have yielded the most return on investment in the last year, cloud computing received 45% of the responses, a third of the sample said low-latency trading and 23% complex event processing.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

05 May, 2011
04 April, 2011
28 January, 2011
12 January, 2011
10 January, 2011

Who is commenting?

Featured job

Competitive
New York City, NY (USA)

Find your next job