IT leaders in US banks do not expect their budgets to
increase next year despite signs of a global economic
recovery.
According to a report on the largest banks in the US and Canada,
72% of CIOs expect budgets to stay the same or fall next year. Cost
cutting will be top of CIOs' to do lists.
CIOs were already under pressure because cuts were made
following the start of the world economic crisis, which began to
hit banks about a year ago.
"Bank CIOs have managed their budgets thriftily for the past two
years, and expect to do more of the same in 2010. As such, a
majority of North American bank CIOs plan to focus on improving
efficiencies and cutting costs," said the report from Aite
Group.
The research also said that technology suppliers must target
more than traditional IT decision makers if they are to be
successful selling to banks.
"The road ahead will be a difficult one for vendors," said Gwenn
Bézard, research director at Aite Group. "Vendors need to rapidly
adjust their sales process to account for the rising number of
stakeholders involved in IT decisions. They should train their
salesforce to build momentum more effectively through IT decision
influencers with distinct agendas."