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FintechFebruary 3 2004

It’s not broken, fix it anyway

Chief information officers’ attitude of not replacing core systems unless there is a problem is outmoded and will lead to banks losing customers in the digital decade, says Chris Skinner.
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Someone recently gave me an MP3 Jukebox. The size of a Walkman, this jukebox stores 60Gb of music – the equivalent of about 3000 CDs or four months of non-stop music. That is music I carry with me everywhere, like having my whole collection of discs in my pocket.

Why am I telling you this? Because this is the digital decade: everything is going digital. An example is the mobile telephone, which is now a television, music player, camera and entertainment console all in one … and, by the way, also a telephone.

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