As banks modify legacy software systems and work through the acquisitions of 2009, they're hiring more IT workers, say industry professionals. Citibank and Wells Fargo, among others, hired systems and data engineers last year in response to mergers, the increasing pace of financial transactions, changing financial regulation and mobile banking trends.
"Once upon a time, technology was viewed as just a competitive advantage," said Jon Beyman, managing director of operations and technology for Citigroup's global institutional client group. "But the reality today is that your technologies define the boundaries of what your product offerings are."
Read more on FINS Technology about the technology need at banks, which banks are on the hunt and how much IT workers at banks get paid compared to other industries.