Banking
90% of controls on one trading desk were manual and key processes including trade pricing were "conducted manually, predominantly, in Excel spreadsheets..."
"One of the things in particular I'm looking at right now is a large competitor of yours. It presents a little bit of a risk…"
“The target operating model is UBS. The IT that we choose is UBS… It doesn't mean that necessarily all the time the UBS technology and target operating model is the right one. But it is the one that we can execute faster…”
“Increasingly complex and ad hoc software patches needed to deal with emerging problems and inconsistencies in the forecasting process” says former Fed chairman.
"We continue to upgrade many of our IT systems and are transforming how software solutions are developed..."
Proposed changes for account onboarding front-load compliance burden, even as technology gets slicker...
Stored procedures in Sybase-based applications that have become a "humungous monster" do not make that easy. One banking multinational is testing the switch to MongoDB...
People take the hit to offset huge spending on tech, risk.
"There is still work to do on developing appropriate business continuity and contingency plans and exit procedures where third parties provide critical operations"