Abstract
This Financial Insights report discusses the results from the 2008 Annual
Verticals Survey. Financial institutions are absolutely reliant on IT, and
North American banks will spend more than $52 billion on IT in 2009. To
understand how that $52 billion will be spent, Financial Insights analyzes the
2008
Annual Verticals Survey of 348 bank IT executives and managers within the
context of the deepening recession as 1Q09 concludes.
"Bank executives surveyed tell us they are scrutinizing IT purchases more than
ever and driving tougher contract negotiations. It is critical for both banks
and vendors to understand IT spending trends in the industry as we brace for
more difficult times ahead," states Karen Massey, senior analyst, Consumer
Banking and Credit, Financial Insights.
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