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Banks Embracing Technology: Fast Enough for Regulators?

Published on 8 October in SAP

The buzz: Banking.

Triggered by the financial crisis and the subsequent regulatory changes, banks are moving toward a new paradigm of simultaneously and proactively managing risk, return, liquidity, and capital. While technology is playing a transformative role in the banking industry, many regulators believe the banks are moving too slowly to fully embrace it. Are they right?

The experts speak.

Richard Fleming, Bain & Company: “Change happens by listening to people and then starting a dialogue with people who are doing something they don’t believe is right.” (Jane Goodall)

Mike Pinedo, New York University: “Future challenges for banking will involve determining the trade-offs between ease of use for the customer and how to maintain a high level of security and privacy.”

Don Trotta, SAP: “’If everything seems under control, you’re not going fast enough.’ (Mario Andretti). If regulators are now moving faster than banks … that’s a ‘game changer’.”

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