In what must be interpreted as indication the recession is waning, a new report from Boston-based Celent estimates that global IT spending by financial services institutions will reach $363.8 billion in 2011. The total would represent a 3.7% increase over the outlay seen in 2010.
The report, “IT Spending in Financial Services: A Global Perspective,” analyzes IT spending trends across different industry verticals (banking, insurance, and securities and investments) and different regions (North America, Europe, the Asia-Pacific region, Latin America, and Africa).
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