€18 billion is the amount invested by European banks in 2016, according to a study carried out by the European Banking Federation (EBF) of 108 European banks and published on Tuesday 31 October. This is a significant amount when banks are required to accept “prudential rules that require software investments to be treated as costs instead of an investment”, the organisation laments in a press release.
Readers may recall that in Europe, software in which banks invest is considered an...