Council Awards Jwaala Best Of Show For MoneyTracker
ORLANDO, Fla.-The CUNA Technology Council presented its Best of Show Award to Jwaala for its MoneyTracker personal finance solution during the Bank Administration Institute's (BAI) Retail Delivery Conference. MoneyTracker is a personal financial management application that enables online banking users to budget and track their accounts, spending habits, net worth, and other information.
Report Released On The Future Of IT Global Spending
BOSTON-Global information technology spending by financial services institutions will reach $353.3 billion in 2009, a decline of 1.3% over 2008, according to a report from Celent titled, "IT Spending in Financial Services: A Global Perspective."
The report said the most telling indicator of future spending and growth relates to investments in new IT projects. Of the total investment in IT in 2008, a whopping 71.9% still goes to maintenance. The percentage of funds dedicated to maintenance activities is still astronomical, but is slowly coming down (73.7% was dedicated to maintenance in 2006), the report's authors said.
"Unfortunately, economic conditions and the financial crisis has financial institutions cutting spending on new investments," the study projects. "As such, the ratio of maintenance to new investments will remain relatively unchanged in 2010."
The financial crisis and economic uncertainty have North American banks tightening their belts. Large banks in particular are slashing budgets and placing significant emphasis on keeping costs under control."
