The Ledger: New tech investments

A new study reveals that banks are accelerating their adoption of new technology, and many are looking to fintech partnerships to do so.

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New tech priorities

Among 11 possible choices, respondents indicated that these four would be bigger priorities in 2022 than in 2021.

2022 2021
Pursue partnerships with fintech startups 15% 5%
Better address fraud/risk management 19% 13%
Invest in infrastructure upgrade 19% 17%
Migrate applications/systems to the cloud 12% 7%

Top 5 technologies banks plan to invest in

1 Cloud computing

2 (tie) Application programming interfaces (APIs) | Machine learning

4 Chatbots

5 Robotic process automation (RPA)


More money for technology

83%

The percentage of banks that will spend significantly or somewhat more on technology, up from 73% in 2021 and 72% in 2020

47%

The percentage of banks that had already deployed cloud computing by 2022


Source: “What’s Going on In Banking 2022: Rebounding from the Revenue Recession,” Cornerstone Advisors