I would say that it has affected competitiveness in a positive way. No matter if they are costing out to serve an internal audience or pricing products for an external audience, banks are operating more efficiently today.

The evidence doesn't really show that operations have been impacted over the long term. I don't think anybody got severely penalized when bank earnings were down a few years ago. Now that earnings have come back, I think spending on technology will increase.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.