Isn’t this a strange twist, especially for a financial institution? Washington Federal Savings has said no to ATM’s, e-mail and web access! How do they survive? Read about it at CFO.com — There’s No ”IT” in ”Thrift”. Very interesting.
Only one penny of every $1 in revenue is spent on technology, an extraordinarily low figure, according to industry analysts. Most banks spend 4 percent to 8 percent of revenues on IT; the larger ones spend up to 20 percent.While analysts question how long Washington Federal can maintain its efficiency and growth without embracing IT more fully, the company rolls on, accumulating cash and planning new branches in Nevada, Oregon, and Washington State.
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