PADUCAH, Ky.--(BUSINESS WIRE)--Technology will be a defining factor in driving growth among financial institutions this year, according to an annual survey by Computer Services, Inc. (CSI) (OTCQX: CSVI) on banking priorities. CSI, a provider of end-to-end financial technology solutions, also found through the survey that bank executives see loan growth and interest income growth as one of the best opportunities for increased profitability in 2015.
The results of this year’s survey, based on the responses of more than 200 bank executives, also identify driving growth and profitability as one of the greatest challenges for financial institutions heading into 2015. In fact, the topic emerges throughout the survey, making it a prominent theme for the year. Technology also will be a defining factor in the industry, as financial institutions adopt new platforms and make plans to enhance their mobile and omnichannel banking opportunities.
“As trends continue to change in the industry, we make a strong effort to keep financial institutions up-to-date on key industry topics and economic insight through our annual banking priorities study,” said Steve Powless, chief executive officer for CSI. “This year’s survey strikes a positive tone regarding a variety of industry issues, including growth, profitability and economic conditions. However, it also reveals that such top challenges as managing compliance, adding new technology and mitigating cybersecurity concerns remain the same for financial institutions in 2015.”
Key survey highlights include:
- The majority of respondents, 44.6 percent, identify branch optimization as their strategic focus in 2015. Other areas of strategic focus include mobile check capture, EMV preparedness and mobile banking adoption.
- Seventy-five percent of those surveyed believe that non-traditional services will have either a positive effect or no impact on profitability. With 39.2 percent of banks reporting that non-traditional services will have a positive impact on their profitability, banks seem to believe that they will have a greater opportunity to participate in such new technology as Apple Pay to better serve their customers.
- Today, bankers remain committed to investing in technology products and services, with a vast majority of respondents, 65.1 percent, planning to increase their investment in technology versus only 0.5 percent planning to decrease their investment.
“As we move forward into the new year, we understand the importance of creating strong goals and identifying key strategies that ensure profitability and growth for financial institutions,” Powless added. “CSI’s 2015 Banking Priorities Study highlights many challenges financial institutions will have to overcome this year, but also there are many new opportunities that can help them accomplish their goals and achieve great success.”
A free copy of the survey report can be found at www.csiweb.com/priorities 2015.
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core processing, managed services, mobile and Internet solutions, payments processing, electronic and print distribution, and regulatory compliance solutions to financial institutions and corporate customers across the nation. Exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation and have resulted in the company’s inclusion in such top industry-wide rankings as the FinTech 100, Talkin’ Cloud 100 and MSPmentor Top 501 Global Managed Service Providers List. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.