NU Online News Service, Mar. 1, 12:21 p.m. EST

NEW YORK—The economic downturn has meant cutbacks in many areas, but technology vendors still continued to invest, producing new, innovative products for the financial services industry, said a technology executive.

Microsoft Financial Services Group sponsored its 2011 Financial Services Technology Showcase here featuring more than a half-dozen technology companies working in the financial services sector—a few of whom presented solutions for the insurance industry.

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