The spend by retail banking institutions onbusiness intelligence(BI) IT in North
America, Europe, the Middle East and Asia-Pacific, will reach
£4.5bn by 2012, up from the £2.8bn in 2006, says analyst
Datamonitor.
According to Datamonitor's "Business Intelligence in Retail
Banking" report, the combination of
compliance requirements, a competitive business environment,
the sub-prime credit crunch and the need for stronger management
will drive retail banks' investment in BI software.
Given the sector's growth of IT budgets devoted to BI, said
Datamonitor, many suppliers from diverse backgrounds, such as
reporting, analytics, data management and operations, have rushed
to claim their stake by adapting their definition of BI to fit
their offering.
