Digital Spending In The Banking Sector
The total technology spends in the banking industry is estimated to be $255-261 BN as of December 2018. Digital spending in the banking sector is highly consolidated among the top 30 banks with JP Morgan Chase, Wells Fargo, and Citigroup emerging as top spenders.A look at spending patterns by geography reveals that North America accounts for 38.7% of the total spend. Startups that develop end-to-end use case solutions in Analytics, AI, Cloud and Blockchain are prime investment targets.
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