‘IT Spends by Banks, Securities Firms to Increase 9.7% in 2017’
Mumbai: Global analyst firm Gartner on Friday said IT spends by domestic banks and securities firms will grow nearly 10% to $ 8.9 billion in 2017.
“IT spending by banking and securities firms in India will reach $8.9 billion in 2017, an increase of 9.7% from 2016,” it said in a note. This includes total enterprise IT spending for internal spending and spending data on data center systems, devices, software, IT services and telecom services, it said. The spends on IT services will grow at a faster clip of 13.8%, as the companies invest more in business processes, with a specific focus on business process outsourcing, it said. The focus is on outsourcing will be driven aimed at achieving operational efficiency— PTI.