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UK Financial Services SITS Market Trends and Forecasts 2019 contains TechMarketView's latest analysis of SITS spend within UK financial services. Expenditure is forecast to grow over the next 3 years, but patterns of investment have changed markedly. Whilst the outlook for some segments remains favourable, there is the prospect of tougher times ahead and a “Bad Brexit” could potentially cost the industry close to £1bn by 2022.
Spend has shifted from “run the business” towards “change the business” and automation, customer engagement and new product development have become key strategic priorities. Transformation has accelerated and the insurance and the financial markets sectors are increasingly following the path set by retail banking.
In this report, we have included elements of our new Digital Evolution Model (DEM). TechMarketView’s DEM has been designed to highlight the shift in spending patterns from “Heritage” or legacy SITS, to spend on the “New” transformational technology components (digital, platform and cyber).
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Posted by Jon C Davies at '07:02'
