[vc_row][vc_column][vc_column_text]Combatting the threat of cybercrime is a growing imperative for UK FS firms, with over four fifths of those in the latest CBI/PwC Financial Services Survey planning to invest in preventative technology and IT systems, and to test their defence and response mechanisms over the year ahead. They also expect to increase overall IT spending (+46%, down from +58% in December), whilst cutting back slightly on other forms of capital spending.

The research, involving 98 companies, shows FIs buoyed by a broadly resilient economy, with sentiment in the sector stabilising in the three months to March, having deteriorated throughout 2016. “Financial services companies are having to demonstrate their resilience in the current environment to cope with intense competition, technological advancements, the war for talent, regulatory change and planning for Brexit. The level and pace of change may feel unprecedented, but invariably businesses are still doing well while having to work harder and smarter to achieve the same outcomes,” says Andrew Kail, Head of Financial Services at PwC.

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by Scott Thompson
Scott is Senior Editor at IBS Intelligence. You can follow him on Twitter and contact him at: Scott.Thompson@ibsintelligence.com
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