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KPMG Survey Finds Emphasis on IT Spending, Especially Mobile, Payments

Responses gathered from 100 senior banking executives.

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A new survey by consulting firm KPMG found most eyes in banking on information technology initiatives and a quest for heightened operational efficiencies, as financial institutions continue to grapple with the expense of compliance with new regulations.

“Banks are still in recovery mode after the financial crisis and coming to grips with the new regulatory environment in which they now operate, which is impacting revenue and driving up compliance costs,” said Brian Stephens, national leader of KPMG LLP’s Banking and Capital Markets practice.

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