[ISN] Financial services firms to increase IT spending: survey

From: InfoSec News <alerts_at_private>
Date: Tue, 24 May 2011 00:12:44 -0500 (CDT)

By Ann Bednarz
Network World
May 23, 2011

IT execs in the financial services industry say they plan to increase 
tech spending and use more managed services as they struggle to process 
data faster, less expensively and more reliably.

That's the consensus among more than 100 CIOs and technology executives 
polled by Bloomberg. The survey respondents were attendees at Bloomberg 
LINK's Enterprise Technology Summit, held earlier this month in New 

Among the attendees surveyed, 76% plan to increase IT spending over the 
next 12 months, 17% are cutting back on spending, and 7% are keeping 
spending levels flat.

More than half (55%) expect to shift more of their overall capital 
expense to managed solutions, while 33% won't and 12% don't know.

A key driver of spending is compliance: 84% of respondents have 
increased spending on regulatory and compliance systems in the past two 
years. Just 5% decreased compliance spending, and 11% have kept it flat.


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Received on Mon May 23 2011 - 22:12:44 PDT

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