'Turkish banks will increase their technology investments by 28 percent' ey'n Global Banking Outlook 2018 report by the banks operating in Turkey will increase technology investment budget of 12 months by 27.8 percent in the future. EY, a global audit and consulting firm, announced the results of the "Global Banking Outlook 2018 Report", which globally addresses the strategic priorities of banks for the next 12-36 months. The adoption of digital transformation programs for 85 percent of banks will be an important agenda item in 2018, according to the results of a report based on the opinions of 221 banking sector leaders in 29 countries, including Europe, North America, Asia-Pacific regions and emerging markets. 95 percent of the banks operating in developing countries stress that implementing digital transformation programs is an important priority for 2018. Globally, industry leaders believe that technology investment, effective risk management, and growth opportunities must be exploited to increase efficiency in order to achieve sustainable success. Cyber ​​security first agenda item According to the report results, while the most important priority of the banking sector last year was to manage reputation risks, 89 percent of sector leaders said this year that strengthening cyber security and data security will be top priorities for 2018. Globally, 73 percent of banks and 68 percent of banks operating in developing countries are planning to invest in technology to reduce the threat of cyber security. However, 83 percent of respondents (95 percent of banks operating in developing countries) indicate that banks are at the top of their agenda for the recruitment and retention of issues at a time when they are trying to integrate IT specialists into their organizations. Technology is essential for competitive position and market share Seventy percent of global banks are noted to be an important factor in strengthening their competitive position in technology investments. 87 percent of the banks operating in developing countries are investing in technology to strengthen their competitive position and increase their market share over the next three years. 59 percent of banks predict that technology investment budgets will increase by 10 percent in 2018. While the average increase expectation for technology expenditures this year is 12 percent globally, it is observed that it is 13 percent in developing countries. According to the report on the results of banks operating in Turkey will increase 27.8 percent for technology investment budget in the next 12 months. While 76 percent of the banks operating in developing countries have indicated that they will focus on cooperation with FinTech (financial technology) companies this year, 49 percent expect new technologies to be developed in-house. Digital conversion can be completed in 2020 The report results show that banks around the world are completing the transition process that focuses on conformity to regulation, moving to an innovation process where innovation is pioneering and aiming to achieve digital identity. Only 19 percent of respondents say their bank has reached digital age or is a digital leader, while 62 percent say they intend to have one in 2020. While 57 percent of those operating in developing countries expect their banks to become digitally mature banks or digital leaders in 2020. 29 per cent of the bank managers of banks in Turkey, defining as a digital leader, seeing the bank manager in the same proportion and at the beginning of the digital conversion process. 14 percent of the administrators say they are in the process of maturing in digitalization. Forty-three percent of the managers estimate that by 2020 the bank will become a digital leader. Artificial intelligence era comes in banking in terms of assets of banks operating in Turkey, according to the report represented 71 percent of the banks in country areas they will focus on the global table shows the 12-month period similarity. develop new products for all of the banks in Turkey, investing in technology to improve productivity through technology, to strengthen cyber security and data safety, manage reputational risks and take digital conversion utility application is among the most important priorities. Eighty-six percent of the countries in the world have an important place in the agenda of protecting recruitment and competence, while 57 percent emphasize the importance of developing co-operation with FinTech companies.