skip to main content
Close Icon We use cookies to improve your website experience.  To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy.  By continuing to use the website, you consent to our use of cookies.
Global Search Configuration


Retail banking IT spending is set for another year of growth in 2016. The need to provide a 21st century banking experience is driving IT spending, which points to a busy year ahead for both banks and vendors.


  • According to Ovum's latest technology market forecast, Retail Banking Technology Spending Through 2020, retail banking IT spending will reach $132.1bn in 2016, with a CAGR of 4.2% between 2016 and 2020.
  • The mature markets of the US and Western Europe will continue to be the highest-spending regions for retail banking IT in 2016.
  • Many banks are upgrading the digital banking experience they provide, and the main focal points of these efforts tend to be mobile and online banking.

Features and Benefits

  • Identifies the major IT spending trends as revealed by Ovum's Retail Banking Technology Spending Through 2020 forecasts.
  • Understand which regions and business areas will see technology spending growth in the next year.

Key questions answered

  • Which countries and markets will see the strongest IT spending growth in the short and medium term?
  • Where are enterprises allocating spending?

Table of contents

Ovum view

  • Summary
  • The US continues to be the highest-spending market for retail banking IT, while emerging markets drive growth
  • Front-office investment, particularly around the customer experience, is driving IT spending
  • Digital transformation projects will be a key driver of back-office investments


  • Further reading
  • Author

Recommended Articles

  • Internet of Things

    IoT Viewpoints 2018

    IoT Viewpoints explore the IoT opportunity in 2018 and beyond. Download our latest e-book to get our newest collection of thought leadership articles on the emerging IoT trends, technologies and opportunities.

    Topics IoT

  • Consumer & Entertainment Services

    US pay TV: Is it facing an existential threat?

    By Adam Thomas 28 Mar 2018

    With US pay TV having endured the worst year in its history, thoughts have inevitably turned to the future. The likelihood remains that the immediate future will remain highly uncomfortable for everyone except the scaled multinational digital platforms.

  • Enterprise Services

    5G: Another technology in search of enterprise use cases

    By Evan Kirchheimer 26 Apr 2018

    Service provider interest in justifying 5G investment through its potential to open new revenue streams from the enterprise segment is growing ever greater.


Have any questions? Speak to a Specialist

Europe, Middle East & Africa team - +44 (0) 207 017 7700

Asia-Pacific team - +61 (0)3 960 16700

US team - +1 646 957 8878

Email us at

You can also contact your named/allocated Client Services Executive using their direct dial.
PR enquiries - Call us at +44 788 597 5160 or email us at

Contact marketing -

Already an Ovum client? Login to the Knowledge Center now