The survey was conducted by global risk adviser Willis and included responses from executives at 150 banks, insurers, reinsurers, asset managers, hedge funds and financial technology companies around the globe. It found IT cost concerns surpassed those on regulation or cyberattacks. Specifically, CFOs indicated worry about investing in IT systems as their organizations aim to compete with newcomers who may be more adept to handling more advanced, new technology.
According to Reuters, banks and insurers have generally been slow to respond to new technology, giving more responsive newcomers a greater opportunity to gain market share.
The next highest worry was regulation, the survey found, followed by new security risks resulting from increasingly widespread use of technology. Macroeconomic concerns, such as the impact of quantitative easing, was the only larger source of worry for financial executives who responded to the survey.
More articles on finance:
MedPAC issues June report to Congress: 5 key Medicare issues
Hospital prices up 0.7% year-over-year in May
Kaleida Health sees operating gains in Q1
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
