According to a recent UBS report, JPMorgan and Bank of America are the biggest investors in tech.
A recent report by UBS on bank's IT budgets outlined how much US banks are spending on technology.
JPMorgan and Bank of America were the two highest spenders, investing $11.4 billion and $10 billion, respectively.Big banks love to boast about their focus on innovation and installing cutting-edge technology. But how much is Wall Street really spending on IT?offered a breakdown of the investments large cap banks are putting towards their tech. The Swiss bank used a combination of conference transcripts, FactSet data and the banks own internal information to compile the chart.
It should come as no surprise that the biggest players in the space — JPMorgan, Bank of America, Citigroup and Wells Fargo — maintain the largest budgets.
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