Thursday, January 20, 2005

Research And Markets Study on Basel II, Patriot Act, Sarbox Sees Growth in Technology

Dublin-based Research And Markets has released a study, which concludes that the changes in accounting standards and reporting, mandated by the Basel II (Solvency II) accords in Europe and the Patriot Act and Sarbanes-Oxley in the U.S. will create opportunities "to consolidate investment in new technology and centralise data management operations."

"After witnessing a dramatic decline in IT spending in the retail financial services industry recently, the strategic drivers of IT shifted from revenue-building areas, such as CRM and the front-office, to efficiency measures, including infrastructure consolidation and outsourcing," said the announcement. "A balance has now returned to the market, with the US in particular looking more towards revenue-generating sectors. The Retail Financial Services Technology: Future growth and the impact of compliance, core systems renewal and outsourcing is a strategic management report that analyses the implications of changing IT spending habits and pinpoints future investment opportunities."

The consulting firm's new publication, "The Retail Financial Services Technology Outlook: Future Growth and the Impact of Compliance, Core Systems Renewal and Outsourcing," offers insights concerning these developments.

Research And Markets Study on Basel II, Patriot Act, Sarbox Sees Growth in Technology

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