Banks’ risk management technology spending to reach $74bn by 2015 [bobsguide.com]
Tuesday, 15 November, 2011 Leave a comment
How much less would have to be spent upon IT and Regulation IF banks were “punished” for abandoning Governance, became more transparent and the apparent flaws of the current model were addressed once and for all?
I can’t help but think that this is an obscene amount. So much of it will only be “necessary” as a result of the operational complexity created in an effort to mask activities intended to extract every last penny of value for the bank. Perhaps, paying some attention to the thoughts of Andy Haldane (see link below) and Sir Mervyn King, on the lessons we can learn from nature, can deliver better value to customers…whether at individual or sovereign levels.
Technology investments in risk management infrastructure by banks will reach $74 billion by 2015, a report has revealed.
A study by IDC Financial Insights showed that growth in risk management spending will be faster than the total amount of investment in technology within the financial services sector.
In 2012, risk management will account for more than 15 per cent of IT spending within the industry, the report revealed…
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