Global spending on retail banking technology is set to increase by $3.6bn (3.2%) in 2012, and will hit $135bn over the next five years, reports financial services analyst Ovum.
The biggest spending will be on online banking, which is set to become the fastest growing area globally in 2012, rising 5.3%, to hit $8.3bn by year end. Elsewhere, mobile will see an increase of 5% globally in 2012, reaching $3.3bn, while management information systems and multi-channel integration/customer information systems will also see high growth rates. "Technologies that allow ‘smarter' selling and servicing, such as customer analytics and customer data management, are expected to remain hot areas in the near future," says Ovum's Jaroslaw Knapik, author of the research. "As sa...
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