TECHNOLOGY STRATEGIES NEED TO IMPROVE.

"While most bank executives and directors rate their financial institution's technology offerings as 'adequate,' the intense need to improve the customer experience and create efficiency is driving technology strategies for many leadership teams," says Emily McCormick, vice president of Research at Bank Director, Brentwood, Tenn.--an information resource for leadership and board members of financial institutions--which has released a technology survey, sponsored by CDW, which includes the views of CEOs, technology executives, and independent directors.

Improving the customer experience is a top objective driving bank strategies around the investment, development, and implementation of technology, according to 78% of survey respondents, and 72% indicate an imperative to create a more-efficient operation.

"You have to understand the customer to enhance the customer experience," stresses Scott Hiemstra, financial services sales director at CDW. Yet, 48% of respondents say their bank's data analytics capabilities are inadequate, making it more difficult to meet key strategic goals.

Despite the rise of the digital channel, 51% of respondents say the branch is equally important to online and mobile channels when it comes to growing the bank, and more than half indicate they...