Kronberg im Taunus (ots) – The directors of the world’s largest banks lack technological know-how. This emerges from a recent study by the service provider Accenture. Thus have only six percent of board members and three percent of the CEOs of the world’s largest banks have professional experience in the technology sector. German banks are ranked with a share of 7.4 percent, only slightly above the international average.
In a third of the global largest institutions can at least a top manager to rely on proven technology expertise, in 43 percent of the expertise is missing completely. In times of progressive digitization this could be particularly problematic. “To be able to make informed decisions, the boards increasingly require a deep technological understanding,” says Markus Hamprecht, Managing Director and Head of Financial Services at Accenture. “FinTech, IT security or the technological implications of regulatory changes – all these are management issues that need to be answered at the board level, many bank managers have but simply do not have the expertise to assess such issues comprehensively and from strategic or derive investment decisions.. “
For the Accenture study of the professional background of nearly 2,000 board members in more than 100 of the world’s biggest financial institutions was examined. In the United States (16 percent) and Britain (14 percent) have bank managers on average have higher technological capabilities than in other countries. Particularly poor contrast institutes in China, Brazil, Greece, Italy and Russia are manned.
“Many banks have realized that they need to close technology gaps, and making corresponding efforts to Experts -. for the board, but the search is not designed simply, “says Markus Hamprecht. “In addition, it is not enough to have one or two technology experts in management. Banks need to change the culture in their management bodies. They need a hand, technological know-how and on the other an understanding of the importance of technology for the bank of the future.”
In order to adequately meet the challenge we recommend in particular the establishment of specific technology committees at board level. Similar to a risk or audit committee such a body could provide additional expertise available and advised the Board technological direction decisions. However, currently available only eleven percent of the banks surveyed have such a committee. Even regular training of board members are purposeful to sharpen its technological sense, and to enable better decisions.
“First, banks will have to understand how their business is threatened by innovation and what influence change in their long-term success in the market has, “says Markus Hamprecht. “But that is not enough: banks require in particular a clear innovation agenda with measurable targets and an implementation strategy The board members play a key role, which you can fill in only when they close the gap in terms of technological expertise..” <- sh_cad_6! ->
About the study
In the study, Accenture examined the professional background of 1,925 executives in 109 of the world’s largest banks (in terms of total assets). Among them 68 European banks are (of which 10 are in Germany); 20 banks in the Asia-Pacific region; 18 banks in North America and three banks in South America. For purposes of this analysis, Accenture defined such directors as technology know who dressed in the past at least one senior position in the technology sector of a company (eg. As Chief Information Officer, Chief Technology Officer and Chief Digital Officer) or a senior position in a technology company.
Accenture is a leading global services company, providing a wide range of services and solutions in the areas of strategy, Consulting, Digital, Technology and Operations offering. With extensive experience and specialized skills in more than 40 sectors and all corporate functions across – having regard to the world’s largest delivery network – Accenture works at the intersection of business and technology to help customers to improve their performance and sustainable value to their to provide stakeholders. With more than 358,000 employees, serving clients in over 120 countries, is driving Accenture innovations to improve the way how the world lives and works. Visit us at www.accenture.de
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