Five FS Tech Predictions for 2015
- A financial services company will suffer a major tier-1 system outage due to a failed Outsourced Database Schema change and loss of internal institutional knowledge.
- Organisations will be late in formulating their responses to the Basel Committee’s BCBS 239 principles, but won’t realise and/or admit it until November 2015.
- Regulators will lose patience with financial services firms that prefer to pay compensation rather than fix root cause issues.
- A financial services company will unwittingly install trojan/malware hidden in an Open Source piece of software – by luck the impact will be limited.
- An IT skills shortage, resulting directly from the high level of paper-based regulation facing firms, will hit major Financial Centres such as London or New York. This will deter firms from hiring new talent.