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, 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, 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.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
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...
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...