Banks Boost Contact Center Spending.

Banks will spend significantly more on contact center technology this year than information technology (IT), according to a new study from TowerGroup. TowerGroup is estimating that banks in the U.S. will spend $1.9 billion on contact center technology in this year, while spending on contact center personnel will be approximately $5.2 billion in 2004, almost three times the level of IT spending.

"Banks have realized that while they can invest any amount of capital in improving call center agent applications to serve up timely information laced with rich customer knowledg