"with roughly 25% of the IT budget going into innovation"
I think this is an overestimate, at least for European banks. I once took part in an IT strategy session for one of the largest European banks (with a $2b+ IT budget) and 90% of the spending was on keeping the lights on (BCG say 65% - is this a global average?) with pretty much all of the rest swallowed up by regulatory change.
"with roughly 25% of the IT budget going into innovation"
I think this is an overestimate, at least for European banks. I once took part in an IT strategy session for one of the largest European banks (with a $2b+ IT budget) and 90% of the spending was on keeping the lights on (BCG say 65% - is this a global average?) with pretty much all of the rest swallowed up by regulatory change.