Modest growth for IT spending

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According to Celent, banks in North America will spend $56.9 billion on technology in 2013, up 4 percent from 2012. In 2014, the growth rates will accelerate to 4.4 percent. Retail banking, digital channels and payments are expected to power the increases in spending while wholesale banking spending growth rates will decline. Compliance and maintenance will continue to account for a large share of increased spending. Article