From how-to articles, director training videos, key interviews with industry leaders and more, Bank Services provides bank executives and directors with the tools to help grow their financial institutions. To sign up for exclusive access to this online bank board resource, please contact Bank Services at 615-777-8461 or [email protected].
As the banking industry explores emerging technologies to improve daily operations, bank leaders reveal that their organizations could get clearer about data: what they have, what they don’t have and how they might use it. Bank Director’s 2024 Technology Survey, sponsored by Jack Henry & Associates, also uncovers motivations behind banks’ deployment of technology as well as key improvement areas needed to achieve strategic goals. Nearly half of the senior technology executives, CEOs and directors taking part in the survey say that improving operational efficiency is the primary objective driving their bank’s technology strategy, followed by 29% who cite attracting…
Key Findings
A majority of executives and directors say their bank is in the early stages of its data strategy (34%) or has significant room for improvement (40%). More than two-thirds say their organization does not measure return on investment for technology projects, while 21% track ROI. Sixty percent indicate that one or more planned technology projects weren’t completed on schedule over the prior 18 months. Thirty-six percent report issues integrating new technology into existing systems, and 28% say that one or more projects went over budget. Over the past 18 months, 66% say their bank’s leadership team has discussed allocating budget…
Read the Article
Magazine Subscribers please enter your email and password below.
BANK SERVICES members please login .