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News > Fintech

Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’

Beth Fisher | 12:00 Tuesday 17th March 2020

In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future.

“The bigger the bank, the harder it is to get anything done,” claimed Marc Champ, managing director at Wharf Financial Services, when asked how important it was for banks to pilot tech updates.

Marc Champ
​Marc Champ, managing director at Wharf Financial Services

He commented that larger banks should be leading tech, “because they have got the bigger budgets, [and] they probably have the staff numbers to be able to do it but, unfortunately, the amount of red tape they have to go through and get all these different levels of sign-off, you just can’t do it”.

“So, nothing gets done and then they miss the boat and they go to the back of the line.”

The SB roundtable video can be viewed in full below.

The event — which took place on 12th February at Watson Farley & Williams’ offices in London and was chaired by Medianett editor Beth Fisher — was supported by Aurius from Apak, a Sopra Banking Software company.

Mark Elliott, business development manager at Aurius, was joined by Ranjeev Kumar, partner at Watson Farley & Williams.

Mark Elliott
Mark Elliott, business development manager at Aurius

Also in attendance was Jon Hall, chief commercial officer and deputy CEO at Masthaven Bank; Mark Evans, chief information officer at Hodge Bank; and Nick Baker, head of intermediaries at Allica Bank.

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