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European banks ready to invest in core systems

February 19, 2006

ePaynews.com:Total spending on retail banking solutions in Western Europe totaled about U.S. $7.6 billion in 2005. Core banking system investment is expected to increase in the short term as Europe's banks upgrade their platforms to support new IT demands, changing business needs and government regulations. At a time when pan-European banking consolidation has not yet peaked, a bank's technical expertise is expected to be a key factor in calculating potential value as a strategic acquisition.

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