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Analysis & opinionMarch 1 2021

Should a bank have more technologists than Microsoft?

Many big banks boast that they have more tech staff than the so-called ‘big techs’. But is that something to be proud of, or is it just empire-building?
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Should a bank have more technologists than Microsoft?

I recently saw an interesting article about the head of technology at a major bank, that will remain anonymous for the purpose of this article, which began by saying this person “commands a budget of $10bn and a team of 40,000 technologists”.

To put this into perspective, $10bn is about half the total amount invested in European fintech start-ups, while 40,000 people is the typical size of a football ground audience (in the good old days when people were allowed into the ground).

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