Emerging Trends in North American Banking Technology

This report presents findings from a study conducted by Economist Impact, commissioned by Temenos, which investigates the impact of disruptive technologies on North American banks. The study is based on a global survey of 300 banking executives, focusing on their perceptions of technology's role in shaping the future of banking. The report highlights that 90% of North American banks believe technology will significantly influence their industry in the next five years, a sentiment stronger than in other regions. Key areas of investment include artificial intelligence, blockchain, and cloud computing, aimed at modernizing legacy systems and enhancing cybersecurity. The report also notes a shift towards agile technology delivery and a multi-cloud strategy, which many banks expect to become a regulatory requirement. Furthermore, it discusses the strategic importance of offering banking services to the unbanked and underbanked populations as a business opportunity. Overall, the findings underscore a transformative phase in the North American banking sector driven by technological advancements.