BRENTWOOD, TENN., August 26, 2014 – Bank boards and senior executives express a desire to better understand how to make the bank more efficient and improve the customer experience by leveraging technology, according to Bank Director’s 2014 Growth Strategy Survey, sponsored by technology solutions provider CDW. Eighty-four percent of respondents say that today’s highly competitive environment is their greatest challenge when it comes to growing the bank, and yet despite the threat posed by more innovative challengers from outside the banking industry, less than one-third discuss technology at every board meeting.
One-quarter say their IT staff lacks the resources to support the bank’s growth plans and current operations, and many cite a need for additional or more highly trained staff. And in an industry highly dependent on the expertise of third-party vendors, half reveal that the bank’s core processor is slow to respond to innovations.
More than 145 senior executives and independent directors of banks nationwide responded to the survey, which was conducted in June and early July.
Key findings include:
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Contact: Emily McCormick, director of research, (615) 777-8471, firstname.lastname@example.org
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