Financial institutions can achieve total cost of ownership (TCO) savings of
over 50 per cent by moving away from do-it-yourself (DIY) network
infrastructures and using shared managed extranet services, according to a
newly-published whitepaper from an independent research firm that has been
sponsored by BT. The research found that in the first year of
implementation financial institutions can realize TCO savings of 51 per cent,
with year-on-year savings thereafter of 52 per cent.
In the aftermath of the financial crisis, though many IT projects and
investments have been brought to a standstill by the economic downturn, the
appetite for technology investment amongst the financial community is still
stronger than any other sector, with 36 per cent of financial institutions
spending money on faster, more reliable network technology to survive the
recession (findings from a 'Road to Recovery' research report by BT Global
Services published November 2009).
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