CIOs within financial services organisations are well aware of the need to innovate and add tangible value to the business. Yet many are finding their efforts are being focused on meeting regulatory requirements.

In the latest research conducted by Xantus, more than half of the CIOs in the sector say they dedicate more than a third of their annual IT change budget to regulatory-specific IT. Inevitably, this reduces their capacity for spending in other areas including innovative projects that are essential if the organisation is to compete and grow.

Encouragingly, as many as 86% of CIOs say that they view regulation as an opportunity to drive innovation, while 82% claim regulation has assisted them in the business case for a new IT/business innovation.

To view the full report, click the link below, or to discuss the findings further, please contact david.upton@xantus.co.uk