• Contact
  • Feedback
Banking Day
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Bank boards need tech skills

11 March 2016 4:32PM
There is a lack of technology experience in the boardrooms of the world's largest banks, including Australia's.Only six per cent of board members of the 100 largest banks in the world have professional technology experience - not enough to assess the range of technology issues that are reaching board level these days, according to a new report.According to an Accenture report, Bridging the Technology Gap in Financial Services Boardroom, Australia rates better than average, with 8.1 per cent of directors having professional technology experience.However, that is still not enough technology expertise to deal with issues such as fintech, cyber security, IT resilience and the technology implications of regulation, said Accenture senior managing director of financial services for Australia and New Zealand, Greg Carroll."These issues are all challenging and boards need to respond," Carroll said.Accenture's research also found that only 11 per cent of the top banks have technology committees. Accenture recommends that bank boards set up technology committees and that all directors receive personalised coaching to bring their technology acumen up to speed.Carroll said another concern in Australia was that there was not of technology talent available to go on bank boards."There could be a war for talent," he said.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use