Networking technology set for growth, says research

Investment in network technology, tele/video conferencing, cloud computing and SaaS is set to boom in the financial services sector as it recovers from the economic downturn, according to new research from BT Global Services.
Also, the survey found that just over half of financial institutions indicated that they were already investing money in faster, more reliable network technology to speed up their recovery from the economic downturn.
Commenting on the findings, Paul Phillips, regional director UK and Ireland at networking firm Brocade, says: “BT Global Services conducted a detailed market survey with a number of senior personnel across a broad sector of UK business and it found that the financial services sector was investing in new networking technologies at a faster rate than many others.

“This indicates to us that the investment being made in networking technologies is designed to deliver leaner, cost-effective infrastructures, designed to complement existing business models. Amongst CIOs in the financial services sector there was a desire for proven, reliable technology providers to help them deliver against their future network infrastructure needs.”

“What is clear is that despite the economic downturn many in the sector are now investing in networking technology to improve efficiency in their businesses to help them maximise profitability as and when the recovery starts,” adds Phillips.