Over three-quarters of CIOs at global financial services companies expect to spend more money on IT in the next 12 months, with managed services, compliance and the cloud favoured for increased investment, according to research from Bloomberg.
Bloomberg's LINK business, which organises events, held a technology summit attended by 100 CIOs from major banks. A total of 76% said they expect to increase IT spending over the next 12 months, 17% expect to decrease spend, and 7% think it will remain the same.
Managed services look likely to attract a significant spend, with 55% of respondents devoting more money to managed solutions. A total of 33% will not spend extra on managed services.
Investing in IT to help financial services firms meet regulations has increased at 84% of the organisations questioned, with only 5% reducing this type of investment.
Cloud computing was seen as the top spending choice last year in terms of return on investment. Of those CIOs questioned, 45% said cloud computing gave the best return, 33% said high-speed trading systems were the best value for money, while 23% said complex event processing software offered the best value.