Banking Executives Name Outsourcing as Key Focus
According to a survey conducted at Fundtech’s second International Client Forum in December last year, 53 per cent of banking executives expect to increase their spending on outsourced applications and processing over the next three years. This is consistent with recent research from TowerGroup that projects outsourcing in the payments segment to increase significantly faster than the overall industry with a predicted growth rate of 6.5 per cent. Furthermore, 45 per cent of respondents saw real-time nostro as the initiative with the biggest impact on their business in the long term. Fifty seven per cent of the respondents are planning to use SWIFTNet beyond traditional FIN messages as of 2004/05.