The March 5 edition of the American Banker reported on a study of community bank spending on technology. While nearly all respondents reported they believe technology is necessary to stay competitive, only 7% said they will spend more than $250,000 on new technology. Should the difference between belief and behavior be of concern? Not necessarily.

Wharton's research on technology spending in retail banking systems suggests that most banks are not getting what they pay for with their investments in technology. In fact, there is a significant gap between the functionality they buy and what users believe they have.

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