Wealth management firms are likely to increase their spending on technology and the budget is forecast to reach $3.7 billion by the end of this year, a report by global consultancy Celent says.
The active user base of mobile banking service in India is expected to increase 10 times to cross the 2.5 crore (25 million) mark by 2012, with cost of such transactions being lower than other channels like internet and ATM, a report says.
i-flex Solutions, the provider of IT solutions to financial services industry, said on Thursday it has been ranked number one pure web-based cash management solutions provider by Celent communications
According to the report, the market continues to hold promise as the economy is expected to grow above five per cent even in the global economic downturn.
Jain was the architect of Deutsche's investment banking business and placed one of his former trading heads, Alan Cloete, in Hong Kong as co-CEO for Asia Pacific in 2012.
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