*NEW RESEARCH* Financial Services SITS Market Trends and Forecasts

FinancialServicesViews publishes its annual review of the £11bn UK Software and IT Services market within the UK Financial Services sector.

This report considers the most important Market Shaping Trends within this important sector and details their implications for the SITS vendor community. It also discusses the key developments within Infrastructure Services, Software and Applications Services and Business Process Services in the context of the Financial Services sector.

Despite the poor macro-economic outlook and the uncertainty created by Brexit, we continue to take a positive view of growth within the sector as established financial services companies address their issues of legacy IT and seek to transform their businesses and cost structures. The greater use of cloud services and the increased application of machine learning and automation technologies will be key features in the market going forward. We also anticipate a further movement to the use of more standardised processes and third party suppliers as established financial services providers attempt to improve agility and focus their resources on key elements of value-add.

We continue to expect that SITS demand in the sector will grow faster than the overall UK market, forecasting a growth rate of 3.9% in the current year (to March 2017) with above-average growth over the next five years.

This report is available to FinancialServicesViews subscribers here. If you or your company are not yet subscribers, please contact Deb Seth of our Client Services team on dseth@techmarketview.com.

Posted by Peter Roe at '15:02' - Tagged: outsourcing   cloud   bpo   insurance   automation   legacy   banking   regulation   machinelearning