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Is the I.T. function in banking considered to be on the expense side, as opposed to revenue side?
I must point that without the IT - no-one in the bank generates any revenue. Not to mention the fraud prevention and informational security. To the best of my knowledge - IT in banks and financial institutoins are paid very well for their services, and they earn every penny of it. IT is not just online banking or computer support. IT is the whole underlying infrastructure of the modern banking. Investor without the proper links to the stock exchanges will go elsewhere, loans that cannot be evaluated fast enough (using of course the IT infrastructure) will be taken from someone else, CD's for which the interest is calculated manually will probably not be as attractive as the CD's managed by the computers at the bank next door, credit and debit transactions, ACH, direct deposit, etc - cannot be done without IT. So IT is not expense, IT is infrastructure (and that is "operations" in the budget books). Every function of the bank that generates revenue - relies and depends on it.