Financial Services
The challenger bank has made big investments in tech and is committed to building its own native systems to own every part of its stack
"CTA failed over to the secondary data center, which is operating on the previous version of the software."
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…”
“Less than a year out from the March 2025 deadline… there is still considerable work to be done for many FMIs.”
"The second most prevalent vulnerability was CVE-2022-21587, a critical unauthenticated file upload vulnerability in Oracle E-Business Suite..."
“Increasingly complex and ad hoc software patches needed to deal with emerging problems and inconsistencies in the forecasting process” says former Fed chairman.
Remediating data is a major 2024 priority