According 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.
So 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.