IT Spending Expected To Grow 5% In Financial Services
A new IDC report shows that as the economy stabilizes, financial firms will spend more on technology in 2013.
March 06, 2013
IT spending for the financial services in the U.S. is expected to grow 5% this year to around $91 billion, according to a new report by IDC. IT spending in the sector reached $86 billion last year, but tech spending is continuing to grow as financial firms buy technology particularly to comply with new regulations, as well as to control operational expenses. Specifically, banking IT spending is expected to grow 4.8% this year, while technology spending in the securities and investment services industry should grow 5.6%, according to the IDC report. Read full story on Wall Street & Technology
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