Primary Research and Analysis of Community Banks' IT Priorities in 2017
This report analyzes survey feedback on 40 questions from approximately 100 respondents representing a range of community banks with asset sizes from $100 million to more than $1 billion. The data reinforces that community banks recognize and embrace the use of technology in today’s banking environment and are committed to investing in new technologies and services moving forward. The data also shows that compliance and regulatory issues continue to be top of mind for all financial institutions.
Some findings the report reveals:
- IT network administrators spend the majority of their time on end-user support.
- 71% of respondents outsource their network management and 63% outsource their IT support.
- Information security is the top challenge cited by community banks today, closely followed by budget restraints and changing regulations.
- Respondents indicate that the majority of fraudulent activities are related to debit card fraud. Nearly 88% of respondents claim to have suffered a fraudulent activity related to debit cards in the past 18 months.