Finwin Technologies
The largest banks in the world spend billions of dollars on IT. For example, US banks will spend on technology overall roughly $67 billion in 2019. (1)
Citing a recent study from UBS on US banks' tech spending, Business Insider reported that: "JPMorgan, the highest spender, has an $11.4 billion technology budget this year, a 5.6% uptick from last year's $10.8 billion. Bank of America's IT spend was second, at $10 billion, followed by Wells Fargo at $9 billion and Citigroup at roughly $8 billion." (2)
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    Digital Transformation in Banking / Mortgage Market

    How Much Do Banks Spend On Technology?

    The mortgage lending market
      According to the Mintel research report:
      - The UK remortgage business was worth £85 billion in 2018;
      - Total mortgage lending grew by 5% in 2018;
      - The intermediary share of new lending reached 72% in 2018
      The key customer expectations in 2019 are described by the following activities:
      - 22% of private renters have aspirations to take out a mortgage
      - 19% of mortgage holders expect to remortgage within the next 12 month;
      - 8% of outright owners are planning to take out a home mover loan.

      The Loan Volume for the 10th largest mortgage lenders was presented by the "Bank of Mum & Dad" research (2018). (4)
        Sources:
        1. "How Much Do Banks Spend On Technology?" Accessed 10 Apr. 2019. Link
        2. "Here's a breakdown of how much US banks are spending on technology." Accessed 10 Apr. 2019. Link
        3. "Mortgages for Business: Residential Mortgage Advice - April 2019...". Accessed 10 Apr. 2019. Link
          Date:
          12.04.2019