The fact that London’s financial services sector is also a hot spot for technology innovation is not news. In 2014, investment in financial technology firms grew by 136%. Earlier this year, George Osborne identified London’s financial technology sector as a particularly bright spot in the recovering economy – not surprising when you consider the transformational effect that information technology continues to have on the industry
Banks and other financial institutions are finally spending more on growing new products in areas such as mobile and data analytics rather than maintaining legacy systems, according to a new report by Capgemini.
Banks, asset managers and hedge funds will have to increase their IT budgets in 2013 to take account of weak market growth and a raft of oncoming financial regulation, according to new research by Ovum.
Dutch cooperative Rabobank has increased its outsourcing of banking software development and testing, via a five-year deal with technology specialist Cognizant that the cooperative hopes will provide it with the benefits of stronger technology.
