Spotlight

UK Bank Technology Spending

How Banks Are Staying on Top of Their Tech Spending

Bank Technology Spending Collection

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A look at how banks in the US, UK, and Canada are staying on top of their tech spending.

Executive Summary

We expect total bank technology spending growth to remain at high levels throughout through 2026, after jumping 13.5% in 2022. Outside factors like regulatory and competitive pressures could disrupt banks’ technological offensive.

Key Question: Will banks in the UK be able to maintain higher tech spending in the face of internal and external pressures?

KEY STAT: UK bank technology spending will hit £10.68 billion ($14.69 billion) in 2022 and continue to grow steadily to £13.89 billion ($19.10 billion) by 2026.

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Table of Contents

  1. Executive Summary
  2. Mounting Pressures Threaten Banks’ Tech Spending
  3. Technology Spending Snapshots
  1. Drivers of Technology Spending Growth
  2. What Could Disrupt Tech Spending?
  3. Read Next
  1. Sources
  2. Media Gallery

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authors

Matthew Gaughan

Contributors

Daniel Ramirez
Researcher, Financial Services