Italian banks must invest more in technology, central bank says

ROME, May 31 (Reuters) – Technology investments by larger Italian banks lag behind those of their European peers, the central bank said on Friday, urging lenders to step up spending to support innovation in their offer of financial services.

Italian banks have increased their investments in innovative technology four-fold since 2017, but they remain limited, Bank of Italy Governor Fabio Panetta said in the text of a speech at the presentation of the central bank’s annual report.