A new survey by consulting firm KPMG found most eyes in banking oninformation technology initiatives and a quest for heightenedoperational efficiencies, as financial institutions continue tograpple with the expense of compliance with new regulations.
“Banks are still in recovery mode after the financial crisis andcoming to grips with the new regulatory environment in which theynow operate, which is impacting revenue and driving up compliancecosts,” said Brian Stephens, national leader of KPMG LLP's Bankingand Capital Markets practice.
Reductions in headcount are a focus of many bankers, accordingto the KPMG survey, with 32% of respondents saying they are cuttingjobs.
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