Security features high in information technology budgets.(International Data Corp. report)(Brief Article)(Statistical Data Included)
Information Systems Auditor, April, 2002
In the first part of 2002, the information technology (IT) budgets of financial services organizations in North America will focus on such things as disaster recovery, security solutions, and remote access systems to ensure business continuity, according to the latest study from IDC.
The study estimates IT spending in banking reached US$56.3 billion by the end of 2001, while that in insurance and other financial services reached $25.3 billion and $21.4 billion, respectively.
In the wake of the economic slowdown and the after effects of the attacks of 11 September, IDC's United States IT Opportunity: Financial Services programme felt it necessary to present changes to its previously published forecast for IT spending in the US finance sector.
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