Bank boards need tech skills
There is a lack of technology experience in the boardrooms of the world's largest banks, including Australia's.Only six per cent of board members of the 100 largest banks in the world have professional technology experience - not enough to assess the range of technology issues that are reaching board level these days, according to a new report.According to an Accenture report, Bridging the Technology Gap in Financial Services Boardroom, Australia rates better than average, with 8.1 per cent of directors having professional technology experience.However, that is still not enough technology expertise to deal with issues such as fintech, cyber security, IT resilience and the technology implications of regulation, said Accenture senior managing director of financial services for Australia and New Zealand, Greg Carroll."These issues are all challenging and boards need to respond," Carroll said.Accenture's research also found that only 11 per cent of the top banks have technology committees. Accenture recommends that bank boards set up technology committees and that all directors receive personalised coaching to bring their technology acumen up to speed.Carroll said another concern in Australia was that there was not of technology talent available to go on bank boards."There could be a war for talent," he said.