Bank technology spend rises

In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News editors drill down on technology spending at banks. After the COVID-19 pandemic led to a holding pattern for IT budgets in 2020 and the first half of 2021, tech spending is on the rise again with large banks increasing or planning to increase technology spend. The $432.4 billion Capital One, for example, revealed that its technology-related spend increased 11% year over year. In addition, the BAN team looks at how the digital-native $35 million Locality Bank — which launched earlier this month — is leveraging Nymbus’ digital banking core. The editors also share Quontic Bank’s suggestions for how to create a culture of digital banking.