As global financial markets quake, cross-industry businesses are ramping up spending on risk management.
Indeed, a new report from IDC Financial Insights forecasts risk technology spending across the banking, capital markets and insurance sectors will reach over $74 billion by 2015, outpacing the growth of overall IT spending in financial services and comprising 15 percent of total IT spending in financial services in 2012. The report, Worldwide Risk Technology Spending 2011 Analysis and Forecasts, also breaks down technology spending throughout seven risk submarkets, including enterprise risk management and infrastructure, liquidity and asset liability management, market risk and trading, compliance and control, credit risk, financial crimes, and information security.
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