Bank IT spending in North America, Europe and Asia Pacific will hit US$173.3 billion this year, a modest 2.8% rise on 2011, according to research house Celent.
The figures quoted for Europe reflect the phase of the business cycle so they should not be a surprise, but at the same time they highlight the gap between current budgets and plans, and the IT spend that might be required to implement the SEPA Migration
End Date in February 2014. Paul Styles of ACI recently, in these pages, drew attention to the current lack of focus and activity on SEPA, and these figures would seem to confirm that.
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