This post was first published by Daniel Lowther on the CCgroup PR blog.
The financial services industry is facing challenges like never before.
Competition is increasing as traditional players battle for market share with new, non-traditional financial institutions in a world that is increasingly digital and mobile. The problem is the majority of organisations have outdated IT systems when they are desperately in need of a digital edge to meet these challenges. As a result we are seeing an increase in technology investments by financial institutions.
Analyst firm Celent predicts total spending on IT by banks across North America, Europe, and Asia-Pacific will grow to US$188 billion in 2014, an increase of approximately 4.4% over 2013.
The research we announced earlier this month – ‘How to influence Fintech buyers’ -reinforces this view. The technology market for financial services is truly big business with multi-million dollar contracts regularly being made available for tender. Read more