Report outlines “disconnect” on compliance system spending
Framingham, Ma -- Banks, insurance companies, and asset management firms did not spend as much as predicted in 2003 on compliance solutions, and spending in 2004 will be concentrated in just a few areas, according to a new report from Financial Insights, a Massachusetts-based consulting and analysis firm.
In the report, Compliance IT spending: Reality replacing hype, analyst Sophie Louvel outlines how banks have been spending their compliance IT budgets over the past year, and how those trends bode for software firms in 2004 and 2005. “Essentially, I think there is a disconnect between what the vendors are doing and what banks are thinking about right now,” she said in an interview in early
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