Important steps are being taken to reduce government spending and this will be an on-going challenge as demographic change will greatly expand government outlays unless there’s significant policy change. For example, the ratio of the over 65 age group to those of working age is projected to change from 1:5 to almost half that in 25 years’ time.
*  *  Opening remarks  Professor Bott Ladies and gentlemen It gives me great pleasure to address this Handelsblatt Annual Conference today. “All Digital – All Mobile – All Compliant”, the motto of this year’s annual conference on banking technology, points to the major challenges faced by the IT departments of financial institutions.