The Tech Imperatives Banks Need to Focus on Now

The marching orders are clear: Relieve profit pressure, speed products to market, tackle regulations, and reduce risk.
Caught between tighter capital requirements and higher costs on one side and the need to fund innovation to combat new competitors on the other, banks worldwide are hard pressed to make the right calls on technology spending. Banks’ returns on equity, a key industry profit measure, have been battered since the financial crisis 15 years ago.
On the retail side, with interest rates at their highest levels in 15 years, large and midsize banks are paying more to depositors to keep them from moving money into higher-yielding money market funds. Their investment banking and trading businesses have slumped amid weak M&A and IPO markets and investors’ abating risk appetite. And the threat of cybersecurity breaches, with their potential to leak data and tarnish reputations, looms large over decisions on opening computer network access.
Meanwhile, new competitors are knocking on the door. The nimble newcomers offer customers faster ways of financing, investing, and moving money.
Download now to learn five technology strategy imperatives financial institutions need to focus on and the tradeoffs their leaders need to consider

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