A new report out from Aite Group found that, at the vast majority of banks, lenders spent at least 30% of their time on noncore job responsibilities. This is primarily due to poor systems and poor systems integration. At the same time the report also found a reluctance on the part of banks to spend money on automation in order to improve these processes. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.