Shareholders Have Concerns Over Bank Spending on Technology

Big banks have shown recently that they are not afraid to spend on technology in order to better set themselves up for the long term; however American Banker reports that investors are going to be increasingly skeptical of the spending; banks are both trying to better compete against tech firms like Google and Amazon but also the larger fintechs; even as the economy recovered since the financial crisis bank stocks have lagged; Oliver Wyman shares numerous data points which show investors’ perspective on banks including that 25% of polled investors are confident that banks’ digital transformation strategies will be effective; one of the other issues that banks face is that they track their investments into technology poorly. American Banker

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