19 February 2018
Visit www.avoka.com

Financial services IT spending on the up - Bloomberg survey

23 May 2011  |  7831 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)

Finextra news in your inbox

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

Related stories

'Electronification' of FX pushing up IT spending - Celent

'Electronification' of FX pushing up IT spending - Celent

05 May 2011  |  9699 views  |  0 comments
UK finance sector IT spending to grow as industry recovers - CBI

UK finance sector IT spending to grow as industry recovers - CBI

04 April 2011  |  7267 views  |  0 comments
Global financial IT spending set for rebound - Celent

Global financial IT spending set for rebound - Celent

28 January 2011  |  9588 views  |  0 comments
Global retail banking IT spending set for strong growth - Ovum

Global retail banking IT spending set for strong growth - Ovum

12 January 2011  |  8307 views  |  0 comments
North American bank IT spending on the up - Celent

North American bank IT spending on the up - Celent

10 January 2011  |  9950 views  |  0 comments

Related company news

 

Related company information

Bloomberg

Related blogs

Create a blog about this story (membership required)
visit www.nextgenbanking.co.ukVisit www.vasco.comvisit www.swift.com/your-needs/instant-payments

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11353 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8907 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8796 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8750 views comments | 15 tweets | 43 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
8156 views 4 | 9 tweets | 6 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job