Chart of the day
You can't get the staff these days
Bank Director’s 2023 Technology Survey questioned 102 independent directors, chief executive officers, chief operating officers and senior technology executives of U.S. banks below $100 billion in assets to understand how these institutions leverage technology among their businesses.
Interestingly, banks in the survey identified a lack of skilled mid-level staff (including programmers and data scientists) as the largest pain point in their technological transformations.
Rapid advancement in technology trends such as AI is all well and good. However, it begs the question that its application among banks may only be as good as those who know how to operate it? Given the table above, there still may be a lot to be desired.