Financial Institutions to Increase IT Budgets by 7% in 2026, Celent Reports

AI Summary

Celent's IT Dimensions survey indicates that financial institutions anticipate an average IT budget increase of 7% in 2026, based on responses from over 1,000 executives. Life insurance companies project the largest growth at 13.8%, while property and casualty (P&C) insurance follows closely with 12.9%. In contrast, capital markets are expected to see the lowest increase at 3.7%. Corporate banks are projected to have a budget rise of 5.8%. This information suggests significant investment prioritization in technology across the financial services sector, impacting operational capabilities and competitive positioning.