Tag banking

Tag banking

Impact of IT Risk on a Forever Changing Environment

Tags: , , , , Advice, Business
photo credit: Hamed Saber via photopin cc

photo credit: rosswebsdale via photopin cc

Branching off from a previous post “Does the Rise of Fintech Reflect the Future of Banking,” questions might arise as to the role of risk in this forever changing IT landscape.

Risk plays a role in all walks of life and influences how we operate, whether it is making a financial investment or choosing to travel to an unknown location. Every action can spur unknown events that will have an effect on the outcomes of an objective. With a changing environment, there are a lot of unknowns and the future of banking is no exception. Read More

Does The Rise of Fintech Reflect The Future of Banking?

Tags: , , Business, Cloud, Uncategorized
photo credit: Hamed Saber via photopin cc

photo credit: williamcho via photopin cc

We have previously blogged about the effect of disruptive technologies on the banking industry. As we speak there is an ongoing battle to determine the future of banking as an industry. Today’s news is densely populated with comments about company’s developing mobile payment solutions and alternative methods to borrowing money. Speculation has arisen as to how companies like the tech giant Alibaba might cooperate or even challenge financial institutions. FinTech startups are getting ever increasing funding and support in the UK. With the introduction of new technologies, it would appear as if the race to find the next financial success story has begun. However a question arises: does this highly competitive market reflect the future of banking? Read More

Crisis, What Crisis?

Tags: , , , , Business

crisis what crisisFor those of you who have the same, rather bad, taste in music as me you might remember the Supertramp album from the 1970s with this title, referring to a man staying cool in a crisis.

Following on from a recent post on banks and the cloud, I wonder if we could take this title as a state of play for the banking industries take on the cloud. Are the banks sitting there saying, “I am regulated, so cannot change safely”, are they saying “I am so big I have already achieved economies of scale”, or, like the man on the album sleeve, are they just carrying on regardless, ignoring the problem? Whatever happens within these institutions,
I believe if they keep their heads in the clouds, they risk finding themselves in the middle of a desolate wasteland of defunct technologies.

Changing Paradigms in Banking – Cloud Computing

Tags: , , , , , , , , Business, CIO
photo credit: kevin dooley via photopin cc

photo credit: kevin dooley via photopin cc

It was interesting to see the announcement that BBVA are moving their mail and office services to the cloud. I have been debating with a number of colleagues from the banking industry the future of the cloud in banking.

In the wider services and financial services world, that is less tightly regulated than the big banks, it is clear that they are already making the journey to cloud based computing. Whether they have made the move to cloud based PaaS services such as Salesforce for CRM, or on Google or similar for document sharing and mail, or on an IaaS service for comprehensive corporate computing.

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Measuring and Assuring Service

Tags: , , , , , Assess, Assure, Business
photo credit: hans s via photopin cc

photo credit: hans s via photopin cc

Those of you who have watched the firm evolve may have noticed that we have adopted a three-word slogan – Assess, Advance, Assure. Put another way – set your strategy, deliver your projects, then make sure the deliveries continue to add value once operational. We forget the last part at our peril.

Last year, I was actively working on the Assess part, setting the strategy for a large department in one of the major banks. Just recently, they have called me back in to deliver on the proposed strategy. My colleagues at the bank seem to find it amusing that, so often, consultants set the strategy then walk away.

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