When did technology take over our lives? For most of us, it was about the time we purchased our first smartphone and then later added a tablet on top of that, both of which we now can’t leave home without. The same applies to bank customers, who today can use online banking, image-scanning ATMs and mobile to conduct nearly all of their transactions without ever setting foot in a branch. Technology, you might say, is banking. All of these rapid technological advances put added pressure on bank technology chiefs or chief information officers (CIOs) because these devices need to work perfectly and integrate seamlessly, at least from the customer’s point of view. And on top of that, bank Information Technology (IT) departments need to live within the cost constraints and tightened regulatory environment currently imposed on the financial services industry overall. In this Executive Report, we highlight these and other challenges facing bank technology leaders as they begin the new year.