Risk and Security to Drive European Banks’ IT Investments

Changes in accounting standards and Basel II compliance will see banks’ new investments in IT focused on risk management, accounting and reporting, according to a survey conducted by IDC. ‘The combined analysis of priorities and current/expected investments highlight a common European interest in risk management and core banking solutions,’ said Raffaella Molignani, research analyst for IDC’s European IT Opportunity Financial Services program. Anti money-laundering is particularly important for UK banks, driven by the strong commitment of the Financial Services Authority to improve the control of money laundering by fining banks that do not respect existing regulations, according to the report.


Related reading

New consumer banking head for Citi Asia Pacific