Security, affordability top banks' tech concerns

In the survey, 63 percent of community banks cited affordability and 62 percent cited security as their top technology concerns.

Other highlights from the survey include:

• Community banks continue to have a high degree of interest in imaging-related technologies. Of the banks polled, 65 percent have deployed check imaging applications and 66 percent have indicated a significant interest in imaged check clearing networks in the next 12 to 18 months.

• Imaging technology continued to gain ground in 2004. Community banks using check-imaging applications climbed to 65 percent from 53 percent in 2003, up from 47 percent in 2002. Another 29 percent of community banks plan to evaluate the technology in the next 12 to 18 months.

• In 2002, 54 percent of community banks had Web sites with Internet banking. In 2004, 58 percent of all community banks offered Internet banking services through their Web sites, with only 6 percent showing no interest in the technology.

• A majority, or 67 percent, of community bankers prefer to stay apprised of computer and other vulnerabilities through technology provider Web sites, while only 18 percent use the Financial Services Information Sharing & Analysis Center.

“The survey results reflect the ever-changing role of technology in a bank’s operations and the services offered to its customers,” said Jason Rader, a partner in BKD Financial Services Group.

The survey was completed by more than 900 U.S. community banks.

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