Most banks yet to reap from tech: Study

Only 19 in 161 lenders globally have higher return on equity despite $1.36 trillion outlay

Banks have invested heavily in digital transformation but it may take time for them to reap the rewards, says consultancy firm Accenture.

Accenture found that only 19 of the 161 traditional retail and commercial banks it studied around the world have a higher return on equity despite investing US$1 trillion (S$1.36 trillion) globally over the past three years to transform IT operations.

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A version of this article appeared in the print edition of The Straits Times on June 22, 2019, with the headline 'Most banks yet to reap from tech: Study'. Print Edition | Subscribe