Prepared for Frederik | Delivered April 5, 2020
Global Investment Banks - IT Spend
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To determine the annual spend on technology and IT services by global investment banks (GIBs).
Global investment banks (GIBs) spend
annually on technology and IT services to protect their revenue from the threat posed by fintech companies, as well as stay competitive with their peers, according to a recent report by Moody's.
According to the report, US-based GIBs
on digital infrastructure than their European counterparts. On average, GIBs invested about
of their total operating expenses on technology between 2017 and 2019.
Globally, banks spent a total of
on technology and IT services in 2019. Bank spending on technology is expected to expand at a CAGR of
between 2019 and 2022, fostered by increased software investments.
In comparison, banks in the United States spent a total of
on technology and IT services in 2019.
The global banking industry generated a total of
in after-tax profit in 2018.
The world's top three investment banks include J.P. Morgan, with
in revenue; Goldman Sacks, with
in revenue; and Morgan Stanley, with