Banks, ABI Lab Forum: from cybersecurity to sustainability, the priorities in investments

Banks ABI Lab Forum from cybersecurity to sustainability the priorities

(Finance) – Cyber ​​security, innovation and sustainability: These are some of the priorities in the technology investment programs of banks operating in Italy highlighted by the latest report from ABI Lab, the research and innovation center for banks promoted by ABI. The study, conducted on a sample representing approximately 85% of the banking sector in terms of employees, was presented today at the ABI Lab Forum. The attention of the banks for innovation is also confirmed in the spending forecasts formulated by credit institutions. In fact, for all the entities analysed, the ICT (Information and Communication Technology) budget for 2024 is increasing or stable compared to 2023.
According to the ABI Lab survey, it ranks at the top of the sector’s investment priorities the strengthening of security components, which represents an absolute work priority for the banking world, also in consideration of the recent changes in the geopolitical scenario, and the paths of modernization and adaptation of infrastructures. Completing the podium are the careful and governed management of data (Data Governance), the digital acquisition of customers in a context of change in people’s habits, the consolidation of artificial intelligence and the automation of processes.

Significant attention is also found on the strengthening of information systems to support the bank’s strategic objectives regarding sustainability and on initiatives for the resilience and continuity of services and systems.

Finally, these aspects are accompanied by the services offered through the computing ‘cloud’ (cloud computing), which allow customers to optimize the management of technological resources, mobile banking services, the valorisation of information assets, dematerialisation and transformation initiatives of technological architectures.

On the research and development sidewhich will guide future investments, the projects considered priorities by the banks concern, above all, the introduction of artificial intelligence in the various possible areas of application (customer assistance, operational improvement, commercial development, risk management, etc.), l the evolution of information systems to support sustainability objectives and initiatives to capitalize on the potential of data.

This is followed by projects on Contact centers and Mobile banking services, which are accompanied by a significant commitment to strengthen collaboration mechanisms aimed at promoting open innovation and the adaptation of infrastructures.

Finally, it is emphasizeda strong focus on services provided through the IT ‘cloud’, the opportunities offered by the Blockchain paradigms, the architectural transformation, the strengthening of Internet Banking servicesprocess automation and the management and mitigation of cyber risks.