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Bank CIOs Share How They're Being Digitally Disrupted

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A survey of 50 bank CIOs conducted by American Banker found CIOs' daily lives are still dominated by the need for state-of-the-art customer-facing technology, security concerns and concerns around business strategy and revenue growth.

"Digital disruption is changing business models and customer preferences. We need to be future ready by embracing the digital wave," said CIO who responded to a survey conducted by American Banker, explaining why customer-facing technology has become a top priority. Others noted the need to keep up with competitors, the fact that millennials want more mobile services, and the fact that more existing customers are using the new mobile and online services banks offer. The more traditional work of IT managing hardware and software has dropped to the bottom of the priority list for most banks.

No surprise here. Security is the top issue for surveyed CIOs. Data breaches, website attacks, phishing, malware, and wire transfer fraud schemes all put the CIO's job on the line.

Somewhat surprisingly, CIOs think of themselves as leaders of strategy above all else. "I'm counted on by executive management to advise on mapping strategy and goals to customer demands," stated one. "I drive the direction of where we should go; then I implement the project," said another.

Good, old-fashioned employee referrals and company job listings are the first place bank CIOs turn when looking for top tech talent. College fairs seem to be diminishing in importance.

No positive attitude needed CIOs say they critical qualities of their job are operations and IT experience, followed by business experience, ability to work in teams and communicate.

A survey of 50 bank CIOs conducted by American Banker found CIOs' daily lives are still dominated by the need for state-of-the-art customer-facing technology, security concerns and concerns around business strategy and revenue growth.

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