Under the least surprising things ever category comes a new report—from Accenture—that barely six percent of the board members at large banks have any meaning technology background. The findings certainly explain the tech-hesitations coming from banks, especially when it comes to reducing payments friction.
This is much of the reason why payment facilitators have such a critical role to play with banks—a role that banks neither want to nor are able to execute themselves.
Accenture looked into the professional backgrounds of board members at “more than 100 of the largest banks around the world” and found:
- Only three percent of these banks have CEOs with professional technology backgrounds
- 43 percent of the banks didn’t have any board members with professional technology backgrounds
- As bad as this is here, it’s actually a lot better in North America than elsewhere. In North American banks, 12.1 percent of board members have professional technology experience, compared with 5.1 percent in European banks and 5 percent in Asian banks. “Though boards of banks in the U.S. and the U.K. have higher percentages of directors with professional technology experience than others, the numbers are still low—at 16 percent in the U.S. and 14 percent in the U.K..”
- Less than one percent of directors at Chinese banks—and none at Brazilian, Greek, Italian and Russian banks—have professional technology experience.