Latest articles from Technology

IT spending outlook for 2004

January 5, 2004

TowerGroup estimates that total IT spending in the global financial services industry will rise 4% from nearly $334bn in 2003 to just over $347bn in 2004. Continuing this growth pattern, total IT spending will increase to $379.2bn by 2006, at a compound annual rate of 4.5% from 2004. Banking customers, both corporate and individual, demand superior service and are taking note of their institutions’ performance gaps vis-à-vis other service industries. Innovation will shift dramatically from the traditional, vertically focused dimension of banking products to a horizontal integration of new service breakthroughs by virtue of a federation of alliances and partnerships. Bank business strategy will shift from short-term cost cutting mandates to long-term value and revenue growth.

Moscow tests multi-service smart card for added value

January 5, 2004

The Moscow Social Card is being used as a pilot to measure the added value of dual interface smart card technology, combining credit/debit and social payments applications on a single card. Wendy Atkins reports on the scheme.

Why does the CIO have so many hats?

December 2, 2003

The role of the chief information officer has evolved to take on responsibility for many facets of a company. Parveen Bansal talks to Capital One’s Gregor Bailar about this transformation.

Not in accord

December 2, 2003

ALMA is concerned that some of the IASB’s proposals are not in line
with practice in its member banks and may be too difficult to implement.

WAP waits in the wings

December 2, 2003

Is wireless banking doomed? Not at all, says Chris Skinner. With
WAP technology expected to enjoy a resurgence and the launch of the
next generation of wireless technology, banks should soon see an upturn
in demand.

Alignment of ‘planets’ signals an IT revolution in banking

November 3, 2003

Parveen Bansal talks to Oracle’s Andrew Derrer about the new astrology that will lead to change in IT in the financial services industry. Banks that square up to these challenges will have positive horoscopes, he predicts.

New platforms can reduce costs

November 3, 2003

Cost and business intelligence have been behind firms’ resistance to change legacy systems but, as Parveen Bansal reports, platform replacement may prove to be a cost-saving long-term option as new, cheaper alternatives are developed.

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