Global Banking IT Spend

Goals

To provide the total global banking IT spend (including digitisation investments) between 2015 and 2019, with a breakdown of the spend into different components such as run/maintenance, and development/innovation.

Early Findings

From a Gartner report, the total global banking IT spend in 2019 was estimated at $387 billion and had grown by 2.8 % from the previous year. Thus the total global banking IT spend in 2018 was $377 billion (97.2% of 387 billion).
We have provided a breakdown of the global banking IT spend by component services/products for 2018 and 2019 including internal services, software, IT services, devices, telecom services and data center, in this spreadsheet.

Summary of Findings
From our first hour of research, we have determined that infomartion on the annual global banking IT spend is publicly available. However, breakdown of the spend by component services/products is not as readily available, specifically for the years 2015-2018. To provide the requested information, we propose continued research as below:


Proposed next steps:

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We propose continued research to find the global banking IT spend for the years 2015-2017, providing at least the total spend per year and broken down by component where available.
We also propose further research to provide 2-3 trends in global banking IT spend. For each, we will provide the trend, why we chose it, and 1-2 examples that illustrate its prevalence.