Capital Market Tech Spending To Revolve Around Risk And Compliance
Framingham: The bi-annual Financial Insights report published by International Data Corporation (IDC) brought to light the trends that are set to dominate capital market and other financial sectors. According to the report, worldwide financial services IT spending will top $430 billion in 2014, with capital market firms predicted to invest $110 billion in IT this year.
Matt Sauer, Research Manager of Global Securities and Investment Strategies says “Risk and compliance efforts are still dictating which IT projects will be getting the green light at capital markets firms in 2014.” Report reveals that the global regulatory environment is still a hotbed of activity and the industries are to see substantial investment in areas such as market surveillance, risk management and compliance in an attempt to preserve the market integrity.
The study offers an outlook on IT spending over the next five years and predicts the worldwide IT investments will rise to $100 billion in 2014, with a 4 percent compound annual growth rate (CAGR) over the forecast period through 2017. Capital market firms increasingly investing in technology and automation will not only bring down human errors but will also provide a comprehensive surveillance system to detect market abuse and illicit trading activity.
Check out: Top Risk and Compliance Solution Companies
Media Partner : CIO Review | B2B Online 2020
CIO Review Press Releases : CIO Review | One Stop Systems