3. Don't be Afraid of Technology
Bank executives must not look at investment in technology as an unnecesarry or unimportant expense, KPMG says. Legacy systems, in some cases decades old, can hinder the industry's efforts to reduce the complexity of operations, cut costs, and deliver bottom-line improvement.
"The promise of harnessing technology advances can help banks streamline operations to reduce operating costs, connect future and existing customers across a multitude of new and emerging channels, tap new revenue streams, enhance customer loyalty, and build better defenses against cybercrime and denial-of-service attacks," says KPMG.
[Four Steps to a Successful Tablet Banking Strategy ]
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio