A survey released Tuesday by SAI Global Compliance shows that financial service companies are dedicating a growing portion of their software budget to regulatory compliance.
While financial institutions worry about keeping up with the many changes of the Dodd-Frank reforms, compliance budgets have been growing.
"For the first time, Dodd-Frank compliance was among the top three concerns cited by respondents. Forty-eight percent of those surveyed said Dodd-Frank was a 'top priority,' while another 35% said it was a 'high priority,'" writes American Banker's Chris Cumming.
SAI Global created the survey by polling 121 compliance professionals, of the respondents eighty percent worked for banks or credit unions.
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