Abstract

It's a case of two teams building a tunnel through a mountain, each starting at the opposite end and hoping they meet perfectly in the middle. In Perspective: Data and Risk Management Uniting Business and IT (IDC Financial Insights # FI256951 , June 2015), data and risk management initiatives are discussed as the centering forces that seem to be aligning IT and the lines of business to ensure that these digital transformation efforts meet the same goals.

This IDC study for DX spending in U.S. banking indicates that significant investments are being made to transform the banking organization, at all levels of the business and technology infrastructures. IT executives, line-of-business leaders, and financial chiefs at banks in the United States will gain insight into the industry trends and investments that are driving digital transformation and position themselves and their institutions to keep pace with the leaders in the industry.

According to Jerry Silva, research director, IDC Financial Insights, "There are very few banks in the United States that aren't investing in transformational technologies, and fewer still that haven't at least developed a digital transformation strategy. And the largest institutions are allocating more than 40% of their IT budgets to digital transformation."

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