We expect total bank technology spending growth to remain at high levels through 2026, after jumping 13.5% in 2022. Outside factors like regulatory and competitive pressures could disrupt banks’ technological offensive.
Key Question: Will banks in the UK be able to maintain higher tech spending in the face of internal and external pressures?
KEY STAT: UK bank technology spending will hit £10.68 billion ($14.69 billion) in 2022 and continue to grow steadily to £13.89 billion ($19.10 billion) by 2026.
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