American Banker features Emily Steele on where banks are investing in 2025
Banks plan to significantly increase their technology spending in 2025, according to new research published by American Banker. The survey of more than 200 executives shows security and fraud mitigation leading the way, followed by data analytics, AI, and automation.
Savana President Emily Steele noted that the focus on risk and protection is nearly universal.
“Everybody is talking about enhanced security and fraud mitigation. Every executive, every bank, every credit union, every fintech that we’re talking to, it is the top topic when they are assessing our technology and all of their technology. There isn’t a conversation that I have where those two topics are not brought up.”
Steele also pointed out that banks are thinking more broadly about digital investment beyond mobile apps.
“With mobile apps I would expect that trend to be lower, because we’re thinking as an industry that tech is much broader than just mobile. It’s really about self-service, regardless of how you as a consumer are getting to that data. We know that anything we’re developing for self-service has to work in any way that you’re accessing it, whether on a mobile app or a desktop or an iPad.”
One area Steele found surprising in the survey results was the relatively low priority placed on back-end integration. She emphasized that connecting systems is essential to achieving consistency and efficiency.
“One of the top things we’re hearing is, ‘We have to figure out this concept of integrating our systems so that they’re all talking, we can get to true omnichannel banking and a 360-degree view, and we can ensure compliance is adhered to and the right guardrails are in place in our financial institution.’ We are hearing improvement of banker experience and efficiency in integration as a top priority.”
As tech spend rises across the industry in 2025, the banks that focus on security, self-service, and integration will be the ones positioned to deliver both safer and smoother customer experiences.
Read the full article at American Banker
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