tech-spending-at-chinese-banks-continues-to-increase

Tech spending at Chinese banks continues to increase

Chinese bank spending on technology will reach $11.3 billion by 2011, says Celent.

Banking in China is not always easy. Customers opening an account at one branch are often restricted to using that particular location for any transaction more complicated than a deposit or a withdrawal.

But Chinese banks are investing to change this fact. According to a recent report from banking consultancy Celent, spending on technology is on track to reach $11.3 billion by 2011 -- and most of that is focused on improving services for their customers. Approximately 37% of the investment is going towards new systems.

The information infrastructure at China's four large state-owned banks is very mature and every bank has its own technology team, wrote Zhang Hua, analyst at Celent and author of...

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