New research from the Scottsdale, Ariz.-based management consulting firm Cornerstone Advisors found that as banks and credit unions struggle with technology project overload, the remedy seems to point toward employing more technology, not less technology.
"Technology Management Complexity: Drowning in a Sea of Technology Projects" found that half of 252 surveyed senior executives at U.S.-based financial institutions cite "too many projects" as a top technology concern for 2015.
"These executives are battling less with the complexity of their technology architectures than they are with the complexity of managing all that technology," Brad Smith, managing director of technology services for Cornerstone Advisors, said. "It's all the enhancements, additions, replacements and vendor contract negotiations that are making it harder each day for FI executives to deliver measureable business results from their technology investments."
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