Emily McCormick, vice president of research for Bank Director
Despite discussing the issue rather frequently in board meetings, 80% of bank directors and executives say their board needs to enhance its technology expertise, according to Bank Director’s 2019 Technology Survey. This comes as more than half report that technology is on the agenda at every board meeting, and 39% say they discuss it at least quarterly. So, what’s behind the knowledge gap? When it comes to technology, the board doesn’t know what it doesn’t know. Most lack technology backgrounds. And while 43% say they have a board member whom they consider to be a technology expert, it’s simply too vast of...
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Emily McCormick is the vice president of research for Bank Director, an information resource for directors and officers of financial companies.You can follow her on Twitter at twitter.com/ehmccormick or get connected on LinkedIn.