2012 vision: How can banks keep up with change?
Thursday 29 December 2011 - by Georges Bory
As we enter 2012 it seems the economic crisis is set to continue, with the unreliability of the euro only exacerbating an already difficult financial landscape.
Today's banks can no longer rely on identifying industry trends as early on as possible and, only then, investing to fulfil the demand with a dedicated production system.
Instead, banks need to be able to react quickly to it, rather than attempting the impossible task of speculating on future measures.
This is easier said than done, yet the fact remains that today certain technology, such as legacy risk and trading systems, simply don't fit the bill anymore. Much of this was built for a period when the future could be forecasted, with the systems now serving a purpose which is less useful for modern banking.
Moreover, even if factors come together to enable a business to predict a customer trend, it is likely that competitors will see this pattern too.
It is clear that to meet the needs of today's customer and remain competitive it is important for all industries to continue to invest in better, faster, and more robust systems. So why do many of today's banks rely on technology that is behind the curve?
|Login||Register||Most read||Most commented|
Will markets in 2012 have a tougher time than 2011?