Tech budgets offer a clue about which banks will survive the next financial crisis
CEOs, whether they run a financial firm or sell mattresses, seem to want the world to believe they’re really and truly running a tech company. When it comes to banking, at least, new research shows that technology can make a difference when times get tough. Banks that adopted more IT before the global financial crisis had fewer defaults when it hit, and also provided more credit after it began, economists Nicola Pierri and Yannick Timmer wrote in a working paper for the International Monetary Fund.