Technology vendors 2005: Boom time for IT vendors

By Oonagh Leighton

Research and additional reporting from Katrina Haagensen, Kap Monet

and Da Ly Nguyen

Definitions: Software gets space-age | Profiles | Survey results | Trading Screen: Pulling IT all together

FINANCIAL SERVICES SOFTWARE is big business. In 2005, European banks’ IT expenditure will total more than €45 billion, almost 17% of which will go on external software, according to IT research and consulting firm Celent Communications. IT costs in the US securities industry will reach $26 billion this year, of which external software accounts for a quarter.