Banks to invest about one bln euros in infrastructure and technology say Eurobank head

Greek banks will invest about one billion euros in infrastructure and new technologies in the next few years, Eurobank chairman Nikolaos Karamouzis said on Friday, speaking at a panel of the Hellenic Federation of Enterprises (SEV) conference on “Greece’s Digital Strategy: The Road to Growth”.

Karamouzis, who also heads the Hellenic Bank Association, said the challenge for lenders is how to make the transfer from the current banking system to digital banking. It requires a holistic, non-fragmentary intervention as it will affect all the structures of the banking system, such as internal audit, issues related to risk management and regulatory compliance, he said.

Any banks that will be slow to adapt to the new reality will not have a future, he explained, adding that new technologies should focus on the customer and not simply adopt new technologies for the sake of technology. The important thing is for banks to strengthen their customers’ trust by offering added value to society,” he added.