Economists Nicola Pierri and Yannick Timmer looked at the ratio of personal computers to employees at bank branches and compared that with the performance of mortgages that were sold to Freddie Mac.
By 2010, in the depths of the credit crunch, banks in the top 25% by this measure of IT adoption had about half of the problem loans of banks in the bottom 25% of IT adoption. Loan performance had been similar regardless of IT spending prior to the 2008 crisis.
