In the wake of the events of 2001, financial institutions generally closed the door on new IT spending across the board. That's a conclusion drawn in a report from Meridien Research Inc., Newton, Mass. Virtually all large institutions are taking a hard look at their advanced technology groups and strategic IT planning assumptions-and, in selected cases, are aggressively cutting back on their e-commerce initiatives, the report states. Strategic IT initiatives for wholesale financial services that have been dropped this year from Meridien's 2001 study include: data quality and integration; e-procurement; electronic exchanges, and e-advisory systems. The current top 10 initiatives are: enterprise business process management integration, return on IT investments; straight-through processing; regulatory changes; knowledge management; portal solutions for self-service; security; outsourcing; and financial institutions as IT solution providers.
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