Primary Research and Analysis of Community Banks and Credit Unions' IT Priorities in 2018
This report analyzes survey feedback on 54 questions from approximately 110 respondents representing a range of community banks and credit unions across the country with asset sizes from $100 million to more than $1 billion. Our second annual IT Outlook provides executives with peer-to-peer information to better understand the current IT environment within community banks and credit unions nationwide, while also helping improve decision making within their own institution in 2018 and beyond.
Some findings the report reveals:
- 74% of survey respondents have increased their IT-related security spend in the past 18 months;
- 51% of respondents are using an application to manage their vendor management program while 41% are continuing to use a basic spreadsheet for vendor management;
- 86% outsource their security monitoring, given the increase in security breaches the industry has seen this past year; and
- 81% of survey participants foresee information security will continue to be a top challenge in the coming year.