TowerGroup Predicts $362 Billion for Financial IT in 05

A new TowerGroup report called "Perspectives Across Financial Services Institutions for 2005: Investing in IT to Sustain Growth," projects an estimated $362 billion in IT investments in the financial service industry.

The TowerGroup says this IT investment will lay the strategic foundation for financial services for the next 10 years, laying the groundwork for organic growth, operational efficiency and networked services.

Financial service industry CIOs will be looking to ensure that cohesive architecture, business process management and networked services each play a bigger role as financial firms seek strategic transformation.

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