North American bank IT spending climbs as firms invest in external services

Banks in North America are ramping up IT spending on retail banking services and digital channels this year, with total IT spend expected to reach $64.8 billion by 2016. The figures represent a 4.5% increase this year, as financial institutions increasingly turn to external software provider and specialists to bolster their abilities.

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IT security is expected to prove quite a struggle for banks in the coming years, as banks are effectively locked in an endless battle with fraudsters.

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