Tower said consumer banking will dominate spending globally. The firm predicted that consumer spending will continue to represent the largest share of IT spending while wholesale banking will experience a continued recovery during the year.
As for the securities and investment industry, TowerGroup projects IT spending in the segment will grow four percent during 2005, partially driven by a return to markets by investors who were burned by declining stock markets a few years ago.
15 December 2004
Tower Group Study: $362.B for Financial Services IT
The latest Tower Group Study says spending will be up to $362.B with 72% in North America and the EU.
Posted by Ed at 12/15/2004 05:18:00 AM