Financial services sector technology spending in 2007 was substantially lower than the year before, according to research. The spend for last year is predicted to be $342 billion (EUR*232 billion)worldwide – an increase of 5.9%, compared with 8.7% in 2006, say the figures from researcher Celent.
The Asia-Pacific region had the year’s fastest growth rate, at 7.6%. But it is a smaller slice of the global market than the dominant European and North American financial services sectors, which account for 37.1% and 34.2% respectively.
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