Not surprisingly, there was significant pressure on bank IT budgets in 2008, 2009 and 2010, in the wake of the subprime catastrophe and global financial crisis. Whatever growth there was in IT spending was primarily focused on regulatory compliance and risk management. It was a more encouraging story in 2011, with modest IT budget increases and more diversified spending, including investment in core systems and solutions related to a better customer service, not to mention everything mobile.
With the economy apparently back in the dumper, will banks retrench when it comes to IT investment? And if so, where will they focus their technology spending? You can tell us about your priorities and concerns by participating in a brief Bank Systems & Technology survey, available at this link. We'll be discussing the research at next week's BS&T Executive Summit in Phoenix, and post-event we'll report in-depth on how the 2012 IT budgets are shaping up. Feel free to elaborate by contacting me at [email protected] or on Twitter at @kathyburger.
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio