David M. Brear, our 11:FS CEO, takes us through #legacy #technology within #banks - but of course, with a really cool #lightboard.
In the old days of banking, banks were set-up to rely on a very physical presence, with a heavy reliance on physical processes.
Over the last century or so, what we've seen in banking is a need to remove paper processes and strip-back the necessity of people.
What has come to replace these things is just layers, upon layers, of technology.
With these layers comes an incredible amount of complexity. They present issues varying from data intelligence, to overall customer experience.
Maintaining these systems can result in billions of pounds being spent simply to keep the lights on.