Banking Budgets, Projects, and Expenditures 2024

Faced with challenging market conditions, FIs must strike a balance between immediate consumer needs and long-term initiatives.

Expenditures and budgetary planning are determined in part by the individual company strategy, size, focus, and existing technology of each FI. While these areas vary among FIs, larger market factors and industry direction cause some clear spending patterns to emerge. In December 2023, participants in Datos Insights’ Retail Banking & Payments Executive Council weighed in on 2024 plans and priorities around key business drivers and their enterprise core systems.

The report provides insights into FIs of all sizes hoping to understand how market conditions will impact their peers and themselves. It leverages a Q4 2023 survey of 23 respondents from Datos Insights’ Retail Banking & Payments Executive Council and draws upon Datos Insights’ 2024 financial behaviors study of 2,500 U.S. consumers.

Clients of Datos Insights’ Retail Banking & Payments service can download this report.

This report mentions Amazon, Apple, Starbucks, and Target.

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