More than a third of UK banks (34 per cent) lack the expertise to implement new technology, according to new research.

A survey of 50 UK banks by FinTech provider Fraedom found that almost half of banks (48 per cent) have recruited new skills, or are using partners and third party suppliers to gain the necessary skills.

The roles banks most want to attract are technology risk analysts (32 per cent), data scientists (30 per cent) and network specialists (24 per cent).

The report also revealed that 38 per cent of banks say they are likely to invest in recruitment as a priority in order to find specific skills.

Russell Bennett, chief executive at Fraedom, said: “We can see that there is a great opportunity for banks to partner to uncover the skills they need and how best to attract them, whether that be by recruiting or upskilling existing employees.

“FinTechs can help banks gain a greater understanding of what technology they need which also will be instrumental in attracting new talent, especially as the younger generations progress in their careers and expect to have access to the latest technology.”

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