Returns, not rules, to drive IT investment, says survey
Zurich –- Return on investments (ROI) – not merely regulatory compliance – will drive the increase in information technology (IT) investments in the top global banks in 2004, according to Group 1 Software, a Maryland-based financial services data software provider.
Research conducted between December 2003 and January 2004 by the firm shows that although regulatory compliance was important among the respondents, it was not the priority of their IT spending. The research base included the top 500 global banks. “Compliance may be a driver of increased IT spending in 2004–5, but the global banking community is looking well beyond mere compliance to the objective of immediate and additional return on investment from their IT budgets. There is a great interest
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