Ovum’s retail banking technology forecast covers ICT spending supporting the consumer and business banking lines of business of financial institutions globally. This is segmented by Ovum's updated technology source taxonomy covering applications, infrastructure, IT services, consulting, communications, and internal IT spending forecast up to 2023.
- ICT expenditure by banks picked up over 2018, driven by the need to support wider digital transformation programs. This trend will continue over 2019 to 2023; however, cost pressures mean that overall expenditure growth will then plateau around the 4.1% mark for the rest of the decade, with additional investment largely financed through cost reductions elsewhere.
Features and Benefits
- Provides a highly interactive model with the ability to view data sets and trend charts across geographies and sources.
- Assesses market spend and growth at country level for 20 key markets.
Key questions answered
- Which regions will see strongest growth in ICT expenditure over 2018 to 2023?
- Where will retail banks prioritize spend?
Table of contents
Retail banking: Source
Download 1: Retail Banking Technology Spending through 2023: Source Segmentation