Tuesday 08 August 2023

*NEW RESEARCH* UK Financial Services SITS - Suppliers, Trends & Forecasts

The UK Financial Services SITS market grew strongly during 2022, driven by widespread transformation initiatives, and helped in part by the impact of high inflation. Headline growth was 12.1% as competitive pressures, the imperative for change, and the appeal of cost effective, cloud-based technologies all contributing to increased demand.  

Despite the buoyancy of the market in 2022, UK Financial Services SITS spend has now entered a phase of more modest growth and the outlook for expenditure through to 2026 is significantly reduced on the rates seen recently. In addition to the significant cost pressures being experienced across the UK Financial Services sector, there is an increased focus on implementation and delivering project outcomes.

MT&FAs financial services firms in the UK continue to transform their operations, this is fuelling increased adoption of New technologies (Digital, Platform and Cyber). The importance of this segment of the market is becoming ever more pronounced and over time will dominate technology investments.

FinancialServicesViews subscribers can learn more by downloading UK Financial Services SITS - Suppliers, Trends & Forecasts (2022-2026). If you do not currently have access to this report but would like to learn more, please contact Deb Seth

Posted by Jon C Davies at '16:52' - Tagged: insurance   banking   financialmarkets   wealthmanagement   financial+services  

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