Eighty five percent of banks cite implementation of a digital transformation program as a business priority for 2018, according to the EY Global Banking Outlook 2018. Investment in technology to drive efficiency, manage evolving risks and benefit from growth opportunities is seen by banks as critical for sustainable success.

Addressing cybersecurity is the top priority for global banks (89%) in 2018, replacing last year's top priority of managing reputational, conduct and culture risks, which falls to sixth place in this year's report. Recruiting, developing and retaining key talent (83%) also garners significant attention as banks strive to integrate cyber experts into their organizations amidst a skillset shortage.

As reported in Gold News