For Business Process Professionals

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	August 24, 2007 Banks And Investment Firms Need To Spend More On Transformational Technologies by Mary Pilecki with Andrew Bartels, Sharyn Leaver, Mary Ann Rogan	Average: 7  (2 ratings)

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Executive Summary

Growth in IT spending by banks and investment firms is flat from 2006, despite a positive industry outlook. IT groups are focusing on improving efficiency through investment in productivity tools and infrastructure, while continuing to take a cautious look at outsourcing. Hampered by the cost of keeping the lights on and increased security needs, financial firms aren't investing the needed dollars in research and development (R&D) to find new ways to grow revenue. Without a focus on innovation and transformation, these firms will not be up to meeting new competitive and consumer pressures.

TABLE OF CONTENTS

• Despite A Better Outlook, Banking And Securities Face New Challenges
• IT Spending Doesn't Align With Economic And Business Drivers
• FS Innovation Is Hampered By The Cost Of Keeping The Lights On

WHAT IT MEANS

• Current Budgeting Practices Delay Transformational Technology Adoption
• Related Research Documents

This is an excerpt

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