European IT spending by banks to grow at 4.8% a year

Financial Insights predicts that between 2004 and 2009 IT spending by European banks will grow at 4.8% CAGR. With CEOs under pressure to discover new ways to increase their profitability, CIOs are under the spotlight. In banking, technology is the foundation for every new initiative, and CIOs need to respond faster and more efficiently to new requirements. Solving this dilemma is the challenge for CIOs as well as for IT vendors that can exploit this opportunity to really show the value of IT in the banking environment.