Our Thoughts on IT Matters

Keep Posted on Industry News and Events

   

Financial Services Blog Series: Digital Transformation – Nothing to Lose, But a Fortune to Gain.

  In 1847, a young doctor named Ignaz Semmelweis was working in a maternity ward where he had discovered that a regime of hand washing could dramatically lower the incidence of childbed fever. Unfortunately, the medical establishment rejected his ideas and the ‘germ theory of disease’ didn't take hold until decades later. The phenomenon is now known as the “Semmelweis reflex”, which is the tendency for people to reject new knowledge that contradicts established beliefs. For Financial Services, “Winter is coming” in terms of Digital Disruption by way of FinTech companies invading their space. What is Digital Transformation?  Digital ...

Read More

Negotiating the Economics of Cloud Deals

Recently I asked myself this question: when did the words ‘cloud computing’ become the common expression to simply explain a network of remote servers? According to Technology Review, it can be traced back twenty two years ago to 1996. Inside the offices of Compaq Computer a small group of technology executives were plotting the future of the Internet business and calling it “cloud computing.” Not only would all business software move to the Web, but what they termed “cloud computing-enabled applications” would become common.  In 2018, cloud computing has become a ubiquitous piece of jargon that many find annoying, but also hard to ...

Read More

Financial Services Blog Series: Enemy at the Gate

What can be done to maximize your operations strategy. In the mid-1700s, Alexander Webster and Robert Wallace, two ministers of the Church of Scotland caused a major change that would alter the life insurance landscape forever. The plan they devised would invest the revenue from policy premiums and use the income generated from those investments to payout death benefit claims to the families of the insured. Much of the success of the newly-created fund can be credited to Wallace and Webster’s precise use of actuarial science such as understanding mortality rates of Scottish clergymen, along with life expectancies of the ministers’ wife and ...

Read More

GDPR: An Opportunity for SSM (Strategic Supplier Management)

Many client executives are currently working to become compliant with the new General Data Protection Regulation (“GDPR”).  The GDPR regulation goes into effect on 25 May, 2018, and while GDPR is a European Union regulation, it is expected to be implemented worldwide due to its wide reaching or near universal regulatory umbrella. Around 20 years ago, pretty much all data was stored in the corporate datacenter. Today, that data could be in multiple locations, stored on the edge in branch offices as well as in the public cloud. Critically, Personal Identifiable Information (“PII”) could exist outside primary systems. GDPR represents “the law ...

Read More

Financial Services Blog Series: Optimizing IT Spend in Banks to Improve Efficiency Ratio and Fund Innovation

It was just a few years ago when a leading global consulting firm noted in their financial services outlook, that the “industry would switch gears from defensive compliance remediation to a proactive search for revenue growth and further cost reduction.” As topline growth stayed modest over the years, banks focused mostly on operational efficiencies to drive financial performance improvements. As an example, they looked for scale efficiencies through rationalizing their branch networks with only mixed results.  Banks are very complex organizations, but as IT and Finance collaborate more to redefine their role and value, optimizing IT cost as ...

Read More