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UK Bank Technology Spending
How Banks Are Staying on Top of Their Tech Spending
Bank Technology Spending Collection
A look at how banks in the US, UK, and Canada are staying on top of their tech spending.
Executive Summary
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?
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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.
authors
Matthew Gaughan
Contributors
- Daniel Ramirez
- Researcher, Financial Services
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