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Digital Skills Gap Causes High Stress for Leaders

Too many employees don't know what to do in this digital era

The skills gap is keeping many Chief Information Officers (CIOs) and Chief Technology Officers (CTOs) awake at night, as it presents a major roadblock to their digital transformation efforts, which are essential to post-COVID recovery.

This is according to a report from B2B banking service provider Banking Circle. Polling 600 CTOs and CIOs at banks, fintechs and PSPs across Europe, the company found that basically all of them (99 percent) suffer from skills gaps.

Even though almost two-thirds (63 percent) expect to see their payments IT teams increase in headcount in the next twelve months, a third (34 percent) aren’t confident in their recruitment plans. What’s more, a third of banks aren’t confident their systems maintenance and infrastructure is future-proof, while a third of fintechs feel the same about API technology.

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