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• W209211156 abstract "After a tight-fisted approach to information technology management that spanned the recession, line-of-business executives will be given a little freedom to refurbish their systems, build or buy new applications, and, generally, think in grander terms about their automation and strategy. Bob Landry, vice-president of research with TowerGroup, Needham, Mass., offers his take on budgetary thinking, citing results from new research done jointly by TowerGroup and the ABA: Budgets won't increase dramatically, but bankers will begin to make investments in key areas that are long overdue for attention. the first time in a while, you'll see more banks spending money to generate revenue instead of doing so to cut operational costs. Conducted by mail and telephone from a June to September, the survey outlines the intentions of 150 diversified commercial and savings banks that range in size from $3.8 to $687.5 billion. At very least, notes Landry, after years of spending little and waiting for an economic turnaround, bankers will be reverting to more relaxed mindset when it comes to reinvesting in core businesses. The 60-page report--entitled U.S. Bank Technology Spending and Investment Trends Report--analyzes spending patterns associated with consumer, wholesale, payments, and infrastructure budgets. Enterprise thinking Modest, but across-the-board, budget increases will characterize 2004. This is in sharp contrast to the narrowcast style of spending that marked the recent activity at most companies, analysts say. As part of thinking big (or at least, bigger), executives will begin to shell out somewhat more to overhaul systems throughout the organization, a project that will likely span the next few years. Or, they will fund projects to increase the institutions' value to customers by supporting business process enhancement or improved delivery of products and services. Meanwhile, the increasingly heavy compliance burden will require changes in business process best supported by new types of automation--spurring demand for those applications. Patriot Act, Sarbanes-Oxley, and Basel II (for the largest banks) will each shape automation requirements in new ways. For instance, you'll see new applications purchased or created internally to shore up operational resiliency. The idea will be to cultivate a more systematic approach to operational and credit risk management in line with Basel II demands, notes Landry. (See ABABJ, November, p. 47) Branches attract funds Nowhere will plusher budgets be more evident than in the branch. There, verging-on-obsolete personal computers will be given the boot, notes Landry. The Linux operating system will increasingly be favored in the branch--or even back office--environment, offering banks a shot at owning a far more affordable platform, and one that is becoming perfected over time by an open community of technologists instead of a few vendors. But branch improvements won't be limited to the PC. System makeovers in the form of core processing and platform enhancements will also be a priority, the study notes. Bankers are after upgrades that include workflow automation; greater use of first- and second-pass image capture (primarily in response to the opportunities presented by Check 21); and use of knowledge management systems to get front-line employees and other staff more quickly aligned around new strategies. Banks will also spend more in 2004 and beyond to touch their customers via technologies that support segmentation and multiple product sales pitches. Branch spending particularly makes sense in light of big bank declarations to build out their branch networks. (ABABJ, August, p.30) How the numbers net out Overall, the ABA/TowerGroup report indicates that consumer banking is the business line that consistently lays out the most for its technology, representing just below 50% of total IT spending. …" @default.
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• W209211156 title "IT Spend to Pick Up: ABA/TowerGroup Survey Finds Budgeting Still Stringent, but Top Line Spending Will Happen" @default.
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