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'Disruption' due to eurozone crisis

An industry expert has warned that a eurozone break-up could create disruption for IT services.

According to Gartner analyst Peter Redshaw, the eurozone's potential break-up will cause banks and financial services across Europe to reassess their IT portfolios.

Therefore, the expert told Computing that firms within the financial sector need to prepare for the worst and deploy a certain amount of "creative disruption" within their IT portfolio.

In order to cope with new currencies in the case of a eurozone break-up, money would need to be spent on restructuring IT systems.

Banks may struggle to accommodate new changes to their IT systems as 80% of their IT budget is spent on business continuity and just 20% is left for regulatory compliance and risk management.

However, to deal with the changes, banks and financial services will have to take a look at their business models.

Copyright Press Association 2011

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