American Banker publishes its annual Innovation Readiness research report, providing insight into the practices that can help banks reach their innovation goals
NEW YORK, Oct. 2, 2023 /PRNewswire-PRWeb/ -- A new report from Arizent, the parent company of American Banker, a leading information resource serving senior executives in financial services, publishes its Innovation Readiness 2023 research report. Sponsored by IT consulting and digital services provider SoftServe, the findings indicate that integrating technology is no longer enough for financial institutions; establishing a tech-driven organizational culture is imperative for survival, and offers opportunities for banks and credit unions to grow.
- The findings show the need for financial institutions to shift toward a tech-driven organizational culture — one that prioritizes innovation, aligns it with technology and leverages fintech collaborations."
- "Banks are recognizing the need for strategic alignment, which goes beyond just tech adoption," says Janet King, VP of Research at Arizent.
- "This means financial institutions need to shift toward a tech-driven organizational culture — one that prioritizes innovation, aligns it with technology and leverages fintech collaborations."
- Survey respondents also reveal that culture and resourcing are the primary barriers to innovation at financial institutions.