While it’s clear that a number of banks are lumbered with outdated IT, there are technologies available that could revitalise legacy systems without the need for massive investment.
The UK banking sector requires either a government or industry created “UK financial services cloud,” according to Alan Grogan, chief analytics officer at the Royal Bank of Scotland (RBS).
Cloud computing is one of the most disruptive forces in business in 20 years, according to a study by professional services firm KPMG.
Following high-profile IT failures in both the Royal Bank of Scotland (RBS) and Lloyds Banking Group, the financial services regulator has announced an investigation into core banking platform computer systems.
Two thirds of Giant Group's contractors expect rates to rise, with many also expecting more job opportunities in the financial services sector.
The joint initiative, which will be known as “KPMG Powered Finance,” hopes to bring cloud-based financial processing, analytics and reporting tools to FTSE 350 organisations.
Tony Virdi, VP and Head of Banking & Financial Services in the UK & Ireland for tech consultancy Cognizant, assesses the stuff's 2016 prospects.