With all the bad news circulating about banks these days, it’s easy to believe this sector has no money to spend. A 2009 Bank Systems & Technology survey (BS&T) recently reported that, in general, banks do not plan drastic cutbacks in IT spending. In fact, because so many banks are merging, they may actually need to increase spending in order to integrate information systems. Orla O’Sullivan, writing for BS&T, also notes that smaller banks may need to spend more on everything from marketing to increasing services in order to grow market share. New trends in banking can also drive new investment. O’Sullivan points out that the banking industry is investing in virtualization as well as mobile banking.
The many changes in the banking industry may make it a good place for your technology and consulting clients to market their services. Share this article with them and discuss the possibilities of a new campaign.[Source: O’Sullivan, Orla. 2009 Bank Technology Outlook, Bank Systems & Technology]