Financial institutions are increasing their tech budgets and honing in on AI in 2024 following a rollercoaster year of bank failures, interest rate shifts and geopolitical unrest.
About three-quarters of banks and finance firms are planning to invest more in technology spending, according to
The research comes from a survey of 314 representatives, primarily made up of leaders, from banks, fintechs, credit unions and payment companies. About one-third of respondents are planning to increase their annual tech spending by 1% to 9%, another third expect a 10% to 19% increase and about 9% of respondents plan to raise their tech budgets by more than 20% from last year.
Here’s what Arizent’s research showed are the top tech priorities for financial institutions in 2024:
Catherine Leffert
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