The growing challenge for Financial Institutions is the IT spend, growing as a result of regulation, digitalization and keeping legacy systems up to date! Massive opportunities for these start-ups that found smart solutions to crack this
They are certainly spending billions of dollars on IT systems, as they move to comply with new government regulations, protect themselves from cyber attacks and upgrade customer service. Financial companies worldwide will spend more than half a trillion dollars on technology by 2018 to support areas including risk management and regulatory compliance, and address other issues stemming from the 2008 financial crisis, according to the latest figures from research firm IDC Financial Insights. Banks will spend half a trillion dollars on technology by 2018....
http://www.marketwatch.com/story/how-banks-are-looking-more-like-tech-companies-2014-11-24
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