IT Services Providers in Canadian Financial Institutions: Strong Growth in a Mature Market

In this study, Financial Insights analyses the results of our survey of Canadian financial institution executives, positioning the share-of-mind IT service providers have with these firms. The study also identifies opportunities and makes recommendations for increasing penetration of IT service vendors by highlighting top investment areas and the selection criteria that executives use to choose service providers.

"Canadian financial institutions spend significantly more on IT services compared with firms in other verticals," according to Jamie Sharp, Research Director of the Canadian Financial Services Practice, "The largest area of spending on services is in outsourcing and operations related services. Service providers that are in the best position to capture this spending are those that can align their solutions with specific pain points in each financial services market segment. In addition to providing strong IT expertise, services firms must display compelling thought leadership."