New tax plan is enabling many banks to invest in technology that helps them be more competitive. Vendor management is leading the way.
At this year's ABA National Conference for Community Bankers (NCCB), ABA President Rob Nichols
discussed how banks are already spending based on savings they'll see under the new tax plan. According to ABA polling, banks are reinvesting their projected tax savings in their employees, customer growth, philanthropic activities, and technology to help them gain a competitive edge. This is going to put pressure on other banks to invest or get left behind.