IT spending by Indian banks to reach $9 bn in 2017: Gartner

Major banks introduced various mobile payments and banking applications for their retail and corporate customers

Global research and advisory firm Gartner, in its latest report, states that Indian banking and securities firms would have spent close to $9.1 billion in current Calender year 2017 on their Information-Technology (IT) infrastructure. This represents an 11.7 per cent increase in spending on IT services by banks and security services companies in 2016, after there was slowdown in spending over the previous two quarters.

More investments are expected to flow into Artificial Intelligence and Blockchain for application in financial services as consumers move to digital banking is big way.

Today a customer can access his/or her bank account with