Top 10 Companies in Canada Retail Banking Industry: IT Spending Predictor 2009

Introduction

This databook provides insight into the top 10 companies in Canada retail banking industry in terms of their estimated IT spend.

Report Highlights
Highlights

The top 10 companies in Canada retail banking industry in terms of estimated IT spending spent the largest portion of their IT budgets on hardware, a segment that accounted for about 32% of the IT budgets among these firms. This was followed by spending on software and services.

Among the top 10 companies, a major portion of IT spending is allocated to internal IT. External services include product vendors, local resellers, telcos, systems integrators and specialist outsourcers. Internal IT alone accounted for approximately 36% of the total estimated IT spending by these companies.
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TABLE OF CONTENTS
OVERVIEW 1
Catalyst 1
Summary 1
INTRODUCTION 9
Reasons to Purchase 9
Definitions 10
CANADA RETAIL BANKING INDUSTRY: ESTIMATED SPENDING ON IT 12
Overview 12
Estimated spending by technology segment 14
Estimated IT spending by channel 16
THE TORONTO-DOMINION BANK 18
Budget overview 18
The Toronto-Dominion Bank, estimated spending on IT 19
The Toronto-Dominion Bank, estimated IT spending by channel 23
POWER FINANCIAL CORP 25
Budget overview 25
Power Financial Corp, estimated spending on IT 26
Power Financial Corp, estimated IT spending by channel 30
THE BANK OF NOVA SCOTIA 32
Budget overview 32
The Bank of Nova Scotia, estimated spending on IT 33
The Bank of Nova Scotia, estimated IT spending by channel 37
ROYAL BANK OF CANADA 39
Budget overview 39
Royal Bank of Canada, estimated spending on IT 40
Royal Bank of Canada, estimated IT spending by channel 44
BANK OF NOVA SCOTIA - SCOTIABANK 46
Budget overview 46
Bank of Nova Scotia - Scotiabank, estimated spending on IT 47
Bank of Nova Scotia - Scotiabank, estimated IT spending by channel 51
CANADIAN IMPERIAL BANK OF COMMERCE CIBC 53
Budget overview 53
Canadian Imperial Bank of Commerce CIBC, estimated spending on IT 54
Canadian Imperial Bank of Commerce CIBC, estimated IT spending by channel 58
CANADIAN IMPERIAL BANK OF COMMERCE 60
Budget overview 60
Canadian Imperial Bank of Commerce, estimated spending on IT 61
Canadian Imperial Bank of Commerce, estimated IT spending by channel 65
BANK OF MONTREAL 67
Budget overview 67
Bank of Montreal, estimated spending on IT 68
Bank of Montreal, estimated IT spending by channel 72
DESJARDINS GROUP 74
Budget overview 74
Desjardins Group, estimated spending on IT 75
Desjardins Group, estimated IT spending by channel 79
MOUVEMENT DES CAISSES DESJARDINS 81
Budget overview 81
Mouvement Des Caisses Desjardins, estimated spending on IT 82
Mouvement Des Caisses Desjardins, estimated IT spending by channel 86
APPENDIX 88
Methodology 88
Further reading 89
How to contact experts in your industry 89
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LIST OF FIGURES
Figure 1: Retail banking industry, Canada, spending on IT ($m), 2008 and 2009 12
Figure 2: Retail banking industry, Canada, estimated spending by IT segment ($m), 2008 14
Figure 3: Retail banking industry, Canada, estimated spending on IT by channel ($m), 2008 16
Figure 4: The Toronto-Dominion Bank, estimated spending by IT segment, 2008 19
Figure 5: The Toronto-Dominion Bank, estimated spending by IT sub-segment ($m), 2008 21
Figure 6: The Toronto-Dominion Bank, estimated spending on IT by channel, 2008 23
Figure 7: Power Financial Corp, estimated spending by IT segment, 2008 26
Figure 8: Power Financial Corp, estimated spending by IT sub-segment ($m), 2008 28
Figure 9: Power Financial Corp, estimated spending on IT by channel, 2008 30
Figure 10: The Bank of Nova Scotia, estimated spending by IT segment, 2008 33
Figure 11: The Bank of Nova Scotia, estimated spending by IT sub-segment ($m), 2008 35
Figure 12: The Bank of Nova Scotia, estimated spending on IT by channel, 2008 37
Figure 13: Royal Bank of Canada, estimated spending by IT segment, 2008 40
Figure 14: Royal Bank of Canada, estimated spending by IT sub-segment ($m), 2008 42
Figure 15: Royal Bank of Canada, estimated spending on IT by channel, 2008 44
Figure 16: Bank of Nova Scotia - Scotiabank, estimated spending by IT segment, 2008 47
Figure 17: Bank of Nova Scotia - Scotiabank, estimated spending by IT sub-segment ($m), 2008 49
Figure 18: Bank of Nova Scotia - Scotiabank, estimated spending on IT by channel, 2008 51
Figure 19: Canadian Imperial Bank of Commerce CIBC, estimated spending by IT segment, 2008 54
Figure 20: Canadian Imperial Bank of Commerce CIBC, estimated spending by IT sub-segment ($m), 2008 56
Figure 21: Canadian Imperial Bank of Commerce CIBC, estimated spending on IT by channel, 2008 58
Figure 22: Canadian Imperial Bank of Commerce, estimated spending by IT segment, 2008 61
Figure 23: Canadian Imperial Bank of Commerce, estimated spending by IT sub-segment ($m), 2008 63
Figure 24: Canadian Imperial Bank of Commerce, estimated spending on IT by channel, 2008 65
Figure 25: Bank of Montreal, estimated spending by IT segment, 2008 68
Figure 26: Bank of Montreal, estimated spending by IT sub-segment ($m), 2008 70
Figure 27: Bank of Montreal, estimated spending on IT by channel, 2008 72
Figure 28: Desjardins Group, estimated spending by IT segment, 2008 75
Figure 29: Desjardins Group, estimated spending by IT sub-segment ($m), 2008 77
Figure 30: Desjardins Group, estimated spending on IT by channel, 2008 79
Figure 31: Mouvement Des Caisses Desjardins, estimated spending by IT segment, 2008 82
Figure 32: Mouvement Des Caisses Desjardins, estimated spending by IT sub-segment ($m), 2008 84
Figure 33: Mouvement Des Caisses Desjardins, estimated spending on IT by channel, 2008 86
Figure 34: Research methodology 88
LIST OF TABLES
Table 1: IT segments and sub segments 10
Table 2: Channel definitions 11
Table 3: Retail banking industry, Canada, estimated spending on IT ($m), 2008 and 2009 13
Table 4: Retail banking industry, Canada, estimated spending by technology segment ($m), 2008 15
Table 5: Retail Banking industry, Canada, estimated spending on IT by channel ($m), 2008 17
Table 6: The Toronto-Dominion Bank, IT budget estimates (%), 2008–09 18
Table 7: The Toronto-Dominion Bank, IT budget by estimated entity (as % of overall IT budget), 2008 18
Table 8: The Toronto-Dominion Bank, estimated spending by IT segment, 2008 20
Table 9: The Toronto-Dominion Bank, estimated spending by IT sub-segment, 2008 22
Table 10: The Toronto-Dominion Bank, estimated spending on IT by channel, 2008 24
Table 11: Power Financial Corp, IT budget estimates (%), 2008–09 25
Table 12: Power Financial Corp, estimated IT budget by entity (as % of overall IT budget), 2008 25
Table 13: Power Financial Corp, estimated spending by IT segment, 2008 27
Table 14: Power Financial Corp, estimated spending by IT sub-segment, 2008 29
Table 15: Power Financial Corp, estimated spending on IT by channel, 2008 31
Table 16: The Bank of Nova Scotia, IT budget estimates (%), 2008–09 32
Table 17: The Bank of Nova Scotia, estimated IT budget by entity (as % of overall IT budget), 2008 32
Table 18: The Bank of Nova Scotia, estimated spending by IT segment, 2008 34
Table 19: The Bank of Nova Scotia, estimated spending by IT sub-segment, 2008 36
Table 20: The Bank of Nova Scotia, estimated spending on IT by channel, 2008 38
Table 21: Royal Bank of Canada, IT budget estimates (%), 2008–09 39
Table 22: Royal Bank of Canada, estimated IT budget by entity (as % of overall IT budget), 2008 39
Table 23: Royal Bank of Canada, estimated spending by IT segment, 2008 41
Table 24: Royal Bank of Canada, estimated spending by IT sub-segment, 2008 43
Table 25: Royal Bank of Canada, estimated spending on IT by channel, 2008 45
Table 26: Bank of Nova Scotia - Scotiabank, IT budget estimates (%), 2008–09 46
Table 27: Bank of Nova Scotia - Scotiabank, estimated IT budget by entity (as % of overall IT budget), 2008 46
Table 28: Bank of Nova Scotia - Scotiabank, estimated spending by IT segment, 2008 48
Table 29: Bank of Nova Scotia - Scotiabank, estimated spending by IT sub-segment, 2008 50
Table 30: Bank of Nova Scotia - Scotiabank, estimated spending on IT by channel, 2008 52
Table 31: Canadian Imperial Bank of Commerce CIBC, IT budget estimates (%), 2008–09 53
Table 32: Canadian Imperial Bank of Commerce CIBC, estimated IT budget by entity (as % of overall IT budget), 2008 53
Table 33: Canadian Imperial Bank of Commerce CIBC, estimated spending by IT segment, 2008 55
Table 34: Canadian Imperial Bank of Commerce CIBC, estimated spending by IT sub-segment, 2008 57
Table 35: Canadian Imperial Bank of Commerce CIBC, estimated spending on IT by channel, 2008 59
Table 36: Canadian Imperial Bank of Commerce, IT budget estimates(%), 2008–09 60
Table 37: Canadian Imperial Bank of Commerce, estimated IT budget by entity (as % of overall IT budget), 2008 60
Table 38: Canadian Imperial Bank of Commerce, estimated spending by IT segment, 2008 62
Table 39: Canadian Imperial Bank of Commerce, estimated spending by IT sub-segment, 2008 64
Table 40: Canadian Imperial Bank of Commerce, estimated spending on IT by channel, 2008 66
Table 41: Bank of Montreal, IT budget estimates (%), 2008–09 67
Table 42: Bank of Montreal, estimated IT budget by entity (as % of overall IT budget), 2008 67
Table 43: Bank of Montreal, estimated spending by IT segment, 2008 69
Table 44: Bank of Montreal, estimated spending by IT sub-segment, 2008 71
Table 45: Bank of Montreal, estimated spending on IT by channel, 2008 73
Table 46: Desjardins Group, IT budget estimates (%), 2008–09 74
Table 47: Desjardins Group, estimated IT budget by entity (as % of overall IT budget), 2008 74
Table 48: Desjardins Group, estimated spending by IT segment, 2008 76
Table 49: Desjardins Group, estimated spending by IT sub-segment, 2008 78
Table 50: Desjardins Group, estimated spending on IT by channel, 2008 80
Table 51: Mouvement Des Caisses Desjardins, IT budget estimates (%), 2008–09 81
Table 52: Mouvement Des Caisses Desjardins, estimated IT budget by entity (as % of overall IT budget), 2008 81
Table 53: Mouvement Des Caisses Desjardins, estimated spending by IT segment, 2008 83
Table 54: Mouvement Des Caisses Desjardins, estimated spending by IT sub-segment, 2008 85
Table 55: Mouvement Des Caisses Desjardins, estimated spending on IT by channel, 2008 87
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