Corporate Banking IT spending continues to grow – even accelerate in most regions – from 2023 through to 2025. To understand exactly what this means for the industry, Celent has completed its Dimensions Survey for 2025. The views of over 200 corporate banking industry executives highlight exactly which technologies, product investments and strategic priorities lead their agendas.

2024 will be a busy year for technology-enabled change in the retail banking industry. IT budgets have grown by an average of 4.4% compared on 2023 and, while the plans and budgets of individual banks can vary considerably, there are several common themes across the market. To shed light on the business pressures and technology priorities of the industry, Celent has completed its third global survey of senior executives at retail banks: The Celent Dimensions Survey 2024.

Wealth management IT spending is accelerating in 2024. Firms across the globe report mounting competitive threats, an increasing focus on speed and agility, and a growing need to modernize legacy technology. To shed light on the business pressures and technology priorities of the wealth management industry, Celent has completed its second annual global survey of senior wealth management executives: The Celent Dimensions Survey 2024.

IT budgets for risk management and compliance functions at financial institutions are expected to expand by 4.6% globally in 2024. The second annual Celent Dimensions Survey 2024—Risk & Compliance captures the insights and opinions of 267 senior Risk executives globally to provide an in-depth view into the drivers of IT spending across the industry, as well as the leading technology and investment priorities for the year ahead.

In an increasingly competitive environment, sell side firms continue to see technology as a way to maintain their competitive advantage. In the second year of the report, Celent asks the question on how the billions of dollars are spent and where the technology priorities lie.

Every year we survey insurance CIOs across different regions, including Europe, the Middle East, and Africa (EMEA). This year twenty EMEA life and health insurance CIOs, CTOs, or IT architects have contributed to our survey. Most life and health insurers see customer engagement and servicing operations as the most valuable business cases for GenAI and LLMs. This report provides EMEA life and health insurer's perspectives on business priorities, investment priorities, current system replacement activities, cloud adoption, IT budgets, analytics and artificial intelligence, and Generative AI adoption.

Annually, Celent examines the business priorities, IT budgets, and investments being made by North American life insurance company technology executives. Celent publishes similar reports on EMEA, Asia-Pacific, and Latin America. In December 2023 and January 2024, Celent distributed an online survey to North American life and annuity insurance company technology executives, across both individual and group lines. While the survey was reasonably short, it covered a broad range of topics, including business priorities, IT budgets, investment plans, and Generative AI/LLMs.

A cautious approach was taken in 2023 and we expect this to continue in 2024, with an increased focus on cybersecurity measures while pursuing growth. Notwithstanding, APAC insurers will still increase IT spending in 2024 despite changing priorities. Many of the trends that are projected for use in the industry are coming to the fore, with implementations underway. With this annual report, Celent examines business priorities, IT budget and investment being launched. This report shows the main findings of this year's survey for APAC insurers, for both Life and P&C.

Every year we survey insurance CIOs across different regions, including Europe, the Middle East, and Africa (EMEA). This year twenty-one EMEA P&C CIOs, CTOs, or IT architects have contributed to our survey. A majority of EMEA P&C insurers are planning or developing projects leveraging Generative AI (GenAI) and Large Language Models (LLMs).

Annually, Celent examines the business priorities, IT budgets, and investments being made by North American property & casualty insurance company technology executives. Celent publishes similar reports on EMEA, Asia-Pacific, and Latin America. In December 2023 and January 2024, Celent distributed an online survey to North American P&C insurance company technology executives. The survey covered a broad range of topics, including business priorities, IT budgets, investment plans, and Generative AI/LLMs. A few findings include:

Corporate Banking IT spending continues to grow strongly as global economies shake off the impacts of the COVID-19 pandemic and the subsequent economic and banking industry challenges. To understand exactly what this means for the industry, Celent has completed its Corporate Banking IT Strategy Survey.

To shed light on the strategic and product-level technology priorities of the industry, Celent has once again run its Technology Insight and Strategy Survey. In capturing the insights and opinions of 228 senior executives across the industry, we have a granular view on the leading technology priorities for the year ahead, as well as the products and processes that will see the greatest change.

To produce our research on Wealth Management IT Spending, we surveyed 215 executives across the globe on including all the major geographical regions: North America, Europe, Asia-Pacific, Middle East and Africa, Central and Latin America. Data collected from our global respondents provides the foundation for our trend and benchmarking insights.

With this annual report, Celent examines business priorities, IT budgets, and investments being made by North American Property & Casualty CIOs.

In our 10th annual review of IT priorities and projects for LatAm insurers in P&C, we answer 1) What are the drivers of IT investment, for Latin American insurers?, 2) What is the planned level of activity, by Latin American insurers, regarding IT? and 3) What is the expected IT investment by Latin American insurers?

Every year we survey insurance CIOs across different regions. Growth, cyber security, and regulation remain the top business objectives that EMEA P&C insurers must support. Insurers are also working on accelerating their digital transformation.

Our estimations in 2022 reflected optimism related to the end of the pandemic and its impact on insurers’ IT investments. This year’s survey suggests that life and health insurers have maintained their levels of investment in IT, despite the impact of the recession, currency devaluation, and inflation hurting business in most countries in LATAM.

In our annual insurance CIO survey, we heard from thirty-eight respondents. EMEA life and health insurance CIOs continue to prioritize business growth, but they also increasingly help their organization protect against cyber threats.

With this annual report, Celent examines business priorities, IT budgets, and investments being made by North American life insurance company technology executives.

In reaction to economic and market conditions, insurers are taking a cautious approach in 2023, with an increased focus on cost reduction while pursuing growth and innovation. With this annual report, Celent examines business priorities, IT budget and investment being launched.