Banks Don't Spend Wisely on IT

Chris Burton of Amdocs says that by upgrading their IT systems, traditional financial-services providers could bundle products and better retain customers

With all the new challenges banks now face, one of the oldest and biggest still remains: competition. And that competition goes far beyond a bank's typical rivals. Even retailers like Wal-Mart (WMT) are getting into financial services, offering basic banking to their shoppers.

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