The financial services market has security on the mind. Analysts anticipate IT security spending by North American banks will reach $1.8 billion in 2005, a 12.2% increase over 2004. It is not surprising what banks are devoting to security; with constantly advancing forms of account fraud, IT spend is critical to protecting customers.

This underscores the obvious: Internet banking has tremendous momentum and is on a steady course to becoming mainstream.

So what does this mean for technology companies serving the banking industry? Or for banks looking to differentiate themselves through technology? A growing market invites emerging players and motivates established companies to shore up their propositions. The crowded competitive landscape magnifies the importance of communications. A company must distinguish its offerings and develop a consistent platform that builds trust among stakeholders.

For more information about Text 100's offering for the financial services and banking industry, contact David McCulloch, +1 415.593.8434.