Big Spending But is It the Right Spending
Looks like tech spending will continue in the big banks ($188bn up 4.4% on previous year, see eFinancial news), but how effective is this spending is the real question to ask. Most of this spend is on the big regulatory initiatives and I would argue (based on real world experience) that almost the entirety of the spend on Basel 2.5 and Basel 3 was a complete waste of money. Why?
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