Technology spend by financial institutions continues to rise despite an apparently poor track record of producing value for money. Parveen Bansal explains why success can only occur when technology, processes and people share the same goals and objectives.

Mitchel Lenson, CIO for technology and operations at Deutsche Bank, tells Parveen Bansal that he sees his role as the “conscience” of the organisation when it comes to technology spending – forcing people to think more about the decisions they make.

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.

Trusted relationships are the cornerstone of banking services. Customer needs for specialised financial advice, tailored credit and widespread collection points are boosting the role of bank branches. The younger generation, however, has grown up with electronic devices at their fingertips, and their dynamic lifestyles demand real-time, anywhere access. Therefore, remote distribution channels (for example, the internet, call centres and new generations of wireless services) are extending the more traditional banking services capabilities.

SunGard is changing direction, with plans to launch an integrated systems platform that will allow clients to mix and match its products, Frances Maguire reports.

Activity to update the banking systems is continuing in mainland China, one of the latest moves being Bank of China’s implementation of Summit Systems’ treasury and capital markets software across its interest rate derivatives trading desks.

How should banks meet the challenge of growing competition from retailers for financial services? And where should their technology priorities lie? Bill Hartnett, financial services manager at Microsoft, gives Parveen Bansal some pointers.
Software giant Microsoft is well known not only in the consumer world, but it has also made serious inroads into the financial services sector, where it commands the majority market share in the server and desktop computer operating systems areas.

When disaster strikes, banks must get back into operation as fast as possible. That is where business continuity planning comes in, says Wendy Atkins.