, VP Analyst at Gartner. “This is a change from previous years when outright growth – new territories, new customers, new lines of business – was the primary objective of banking CEOs.”Driven by the increased use of consulting services and infrastructure as a service , IT services will be the largest spending category, forecast to reach almost $270 billion in 2023. This is an increase of 9.
“Economic uncertainty is leading organizations to break down long-term contracts into multiple shorter projects,” said Buckland. “They’re also reluctant to sign new contracts, commit to long-term initiatives or take on new technology partners, which is driving an increase in the use of IT consulting services.”With the global talent shortage impacting banking and investment services organizations, spending on internal services will increase by 4.