BTR Webcast: Cloud Computing Drives 5.5% OPEX IT Spend Uptick in Financial Services

Computer EconomicsAccording to research from Computer Economics, the financial services sector is leading all other vertical industries in increasing its IT spend, as the final vestiges of the 2008 crisis appear to have now been completely shaken off.

Armed with strong balance sheets and a positive outlook on the economy, the industry is investing heavily in technologies that will make financial institutions more agile and resilient.

Frank Scavo PhotoSo says Frank Scavo, president of Computer Economics, one of the more prolific analyst firms in the business technology game.  We caught up with Frank to better understand why the overwhelming majority of IT spending increases in the financial services sector is being allocated to the operational expense side of the accounting ledger, and how that maps to attitudes and actions around cloud computing.

Tune in below to get Frank’s candid take on the current state of IT in the financial services environment, and the key trends that will drive key strategic decisions in the months and years to come.

 

About lcooper

Lane Cooper has over 20 years of experience as a researcher, reporter and editor analyzing the business and technology industry. On average, Lane meets with 600 CIOs and senior enterprise executives every year to understand the impact of evolving technological developments on organizations of all sizes across all industries. He has organized and moderated many live and online events and works with a variety of high-tech organizations to ensure that information is presented in a context that is useful to an audience of sophisticated technology buyers and implementers. He is a Contributing Content Partner to CIO Magazine, Network World and Computerworld. Other news services and magazines that have carried his by-line include: Voice Report, Network World, Byte Magazine, TechWeb, Optimize, Information Week, Telephony, Communications Week, ComWeek International, and Enterprise Systems Journal. He lives in Washington DC, where he is the Editorial Director of BizTechReports, an independent reporting agency that analyzes user trends in business technology.