Findings from Vision Criticalâs UK Financial Technology Survey showed that 83 per cent of respondents think bolstering IT will enable them to outperform any competitors.
Half of the companies questioned from sectors including risk management and asset lending explained that technology solutions offer better value for money than other investments.
Oliver Chadwick, chief executive officer at Visual Critical, said: âIt is encouraging to note that so many successful organisations attribute technology as a major source of competitive advantage.
âThere is no doubt that technology solutions are enabling firms to add value to their clients as well as dramatically [improving] business integration and process delivery.â
Business streamlining, enhancing client-facing services and minimising exposure to risk were reasons behind financial companies looking to increase their IT investment, Vision Criticalâs study showed.
Greater visibility and transparency were also found to be two of the main concerns for companies looking to develop this area of their business.
By Jim Ottewill