Introduction

In addition to personnel, the expenditure on technology will be one of the most substantial costs that a bank has to allocate for. Similarly it is one of the most important as well, therefore it needs to be researched and selected accordingly to suit the client, product offering as well as the business model. 

Key findings

• Current practice – In a recent study that Lepus conducted on vendor technologies and trends, one leading vendor servicing the banking industry told Lepus that clients have a dedicated risk customer advisory boards where they share best practice methodologies and feed this information back to them.
• In response to client requirements the vendor told Lepus that they are working on a selection of projects. This is of no surprise given the recent changes that have occurred across the capital markets.
• Technology – The technology tools and solutions need to reflect and account for the changing dynamics of the business. Flexible, more comprehensive and robust solutions are fundamental, and the ability to scale up or down will be very important during these volatile times.

Conclusion

Given the complex nature of the business at today’s banks, with a myriad of trades occurring in a blink of an eye, there is a growing need to implement more robust technologies across the front, middle, and back offices. Leveraging such solutions across the enterprise should attract and reassure clients and help to manoeuvre in these increasingly fast paced markets.

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Tagged with: 2009, Settlements Systems and Technologies, technology, Technology Research Report