McKinsey’s proprietary benchmarking survey conducted annually with a dozen regional and superregional banks in the United States supports the axiom that investing more in IT is not as important as investing smartly. The latest responses gleaned from a small set of executives in each bank (almost 40 executives in total) covered a range of variables, including the amount banks spent on application development, the level of functionality executives believed IT provided to the business (measured as an index of IT effectiveness), and banks’ overall profitability …
Fouad Bendris’s insight:
Recent research from the banking sector suggests that more IT investment doesn’t necessarily boost profits, but targeted investments in particular areas might !
Source:: Strategy & Governance