In 2026, the financial services sector will spend nearly half a trillion dollars on technology, accounting for 17.1% of total US tech spending. While hyperscaler investments continue to drive overall market growth, financial services firms are increasing spend faster than the market average, signaling a deliberate bet that technology is a strategic lever, not a discretionary cost.
Where Are The Investments Going?The largest share — nearly 40% of total tech spend — will go to software, far higher than the US average across industries. Staffing costs remain substantial, while consulting, systems integration, outsourcing, telecommunications, and hardware round out the rest of the projected spend. The pattern is clear: Firms are prioritizing advanced software, cloud-native platforms, and strong governance to drive growth and automation at scale.
AI And Security Advance In ParallelFinancial services firms are investing in AI and security in parallel, redesigning tech stacks so that trust, explainability, and resilience are a foundation, not a bolt-on. Goldman Sachs, for instance, prioritizes the need for quality, security, and controls while it invests in delivering seamless experiences for customers. This year marks a turning point for the use of AI. The focus is shifting away from isolated use cases. Point solutions and tactical pilots no longer suffice. Leaders are looking for platforms, ecosystems, and partners that can support AI at scale — with governance, observability, and compliance built in.
What Financial Services Leaders Should Do In 2026
Operationalize AI for efficiency at scale.Financial services firms have seen positive impacts from AI on employee effectiveness, but many focus on short-term ROI, leading to isolated and tactical implementations that erode confidence in AI’s long-term potential. By adopting a “invest once, reuse many times” approach to AI development, they can create reusable, scalable approaches to development, leveraging investments across multiple business functions rather than creating one-off solutions.
Invest in data and AI governance.Operationalizing AI at scale requires investments in robust data infrastructure and governance. Yet many firms lack a clear roadmap and adequate resources for consistent AI outputs and model monitoring. To ensure AI success, firms must establish a unified data platform that serves all business units and create governance frameworks that span the entire AI lifecycle, promoting reuse and efficiency across initiatives.
Upskill employees to reap full value.Workforce AI deployment requires equipping human users with the skills and readiness to succeed alongside AI. Financial services firms must implement comprehensive AI learning strategies to upskill employees, evolve roles, and foster collaboration, enabling humans to handle tasks requiring nuance, ethical judgment, emotional intelligence, and contextual awareness where AI falls short.
Improve experiences more holistically across touchpoints.To enhance customer experiences, financial services firms must deliver personalized interactions across all touchpoints, ensuring seamless transitions between channels. Modernizing data and analytics capabilities in scalable cloud environments enables firms to achieve a unified view of customers, understand journey success, and address friction points to provide tailored services that resonate most with customers.
For more, read the report, US Tech Forecast 2026: What It Means For Financial Services. Questions? If you’re already a Forrester client, book a guidance session or inquiry with me.
