Bank Technology Spending History and What We Can Expect Moving Forward
I was asked recently to write an article for a client's newsletter. This may be helpful to people marketing technology solutions within financial services industry... Crystal balls are, at best, cloudy, but the study of current trends and data to predict the future is still an important business exercise. This is especially true in the banking industry because technology is such an integral part of bank operations and also a major line item in budgets. As the editor of Bankers As Buyers ™ for the last five years, I have collected and shared research from some of the most respected sources in the banking industry. This study has always been written from a “looking forward” view—what would drive technology and related expenses in the coming year. In preparing this article, I reviewed five years of information to see patterns and clues as to what we could expect in the coming years. Each year seemed to bring new priorities and concerns to the forefront, but budgets and expenditures f...