Banks could shed as much as 20 million square feet of office space over the next five years as they shift many functions to high-tech operations centers in markets with cheaper rents.
Its decision to hire a consultant to trim expenses highlights the difficulty regionals face in making long-term technology investments in a low-growth era.
Operations executives said in a recent survey that they have to modernize their back offices before they can meet their No. 1 goal: improving the customer experience.
Narcissistic biases can lead us to favor those who look like us or have similar backgrounds or other common bonds. This inevitably affects the quality of hiring and risk management decisions.
