IT INVESTMENT BY FINANCIAL COMPANIES UP

Info-Prod Research (Middle East), February, 2004

According to a new IDC study, IT investment by financial companies in Western Europe shows increased dynamism in the wealth management arena, as companies launch new initiatives after the capital market slump. This is partly reflected in the IT industry, as there is increasing attention on solutions to support financial companies in enhancing customer relationship and automating operations.

"However, we are still in the initial phase of this process and only first movers are really committed to exploiting the new opportunities arising from a clearer business environment," said Mirko Corbetta, research analyst with IDC's European Vertical Markets research group.