Banks worldwide are investing heavily in their digital capabilities, according to the EY Global Banking Outlook 2018.
The EY survey of more than 200 leading executives, representing major banking groups across North America, Asia-Pacific, Europe and the emerging markets, found tech investments are a top priority. Institutions are working hard to protect themselves from cybersecurity threats – with more than 70% planning to make investments in this area. They are also striving to harness opportunities for growth via frontier tech.
“In order for banks to weather the performance challenges that lie ahead, they must prepare for a future led by innovation and technology. The pace of innovation continues to accelerate, and banks must have a strategy in place to ensure their implementation of new technology is effective,” said Jan Bellens, EY Global Banking & Capital Markets Deputy Sector Leader.