Why banks and insurance companies need to continue investing in tech

While some companies are keen on trimming the number of legacy IT applications through consolidation, they all agree that investments in technology are critical when it comes to operating in a digital world that has created incredibly high customer expectations. The adoption of mobile devices has significantly changed the operating landscape.

During his remarks that discussed the company’s outlook for 2017, TCF Financial CEO Craig Dahl said, “We’re going to continue to leverage technology to create new product and service solutions that meet the financial needs of our customers and drive operating efficiencies.”

In an interview with Dennis K. Berman, financial editor of The Wall Street Journal, Bank of America CEO Brian Moynihan discussed the key attributes of today’s bank. “You have to be able to meet every customer, everywhere they want, and no one channel wins,” Moynihan said. While customers are still walking into brick-and-mortar branches, the increase in and importance of other channels have forced executives to expand online and digital capabilities to better focus on customers.

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