We were discussing the forthcoming SIBOS future of money
session yesterday and someone said: the more that time goes by, the more complex
systems have become, the harder they are to change; at the same time, the more
that time goes by, the faster and more powerful technology becomes, the more
demands there are for change. This is
the conundrum: how to change complex systems fast.
It’s not easy, as we all know, and in fact can cause major
issues and glitches as blogged about earlier this week. This is because the contingencies are no
longer just controlled in-house, but across houses, between counterparties and cross-borders.
Even harder is the fact that the system are no longer in-house
but between different organisational controls.
Some are internal, some are external; some are insourced, some are outsourced;
some are on physical servers whilst others are in the cloud; and so on.
This is a big challenge.
It is the theme of the blog I post every day and the free
book we are giving away at SIBOS, sponsored by FIS: Becoming a Digital Bank – Strategies for Success.
Becoming a Digital Bank is the challenge for all banks, as
customers demand new services focused upon 21st century technologies. The
challenge is that most bank systems were developed in the last century.
None of this is easy, and changing the bank’s core systems
is the hardest challenge of all. How do you deliver this vision, who are the
people providing leadership, and where can you find out more?
This book provides insights, case studies, knowledge and
opinion, in order to show the way forward, and will be released on Friday, September