Financial Services Tech Forum

Archives for October 2012 « Recent Articles

Photo of Michael VersaceOffline

Our new colleague and Capital Markets Analyst Matt Sauer at IDC London and I published a brief perspective on the human factor associated with the shut down of Wall Street these past few days. We presented a contrary opinion that the financial markets were becoming overly reliant on highly complex algorithms and high frequency trading bots that are ultimately rendering human presence, and expert judgment obsolete. Our position is that the events of this week have made it abundantly clear that the markets cannot and must not operate without the fully functioning human “machine”.

Photo of Marc DeCastroOffline

Epic. Historical. Perfect Storm. All these terms are being used to describe a potential hurricane / nor'easter that is slated to hit anywhere from the Mid Atlantic to New England. While not minimizing the seriousness of this or any natural disaster, the questions are being asked again about whether or not financial institutions would be able to sustain a regional disaster, particularly one aimed at the heavily populated northeast and how they should go about preparing for such an event.For the upcoming storm, banks will be dusting off their Business Continuity Plans and updating as appropriate. We at IDC Financial Insights therefore thought this would be a good time to review some of our previous thoughts on BCP.

Business continuity addresses the preservation and recovery of business operations in the event of outages. In today's context, it increasingly comprises enterprise-level and end-to-end solutions ranging from design and planning to implementation. For BCM solution implementations to be successful, they have to be interwoven into the very fabric of the organization's culture, with firm commitment from top management. Only then will there be proper communication and transition to acceptability throughout the organization.

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Big Data Governance – Top 5 Challenges

By Michael Versace – 1 Comment

Big data represents equal parts of hype and multi-billion dollars of opportunity across the technology and financial services landscape. Today I'd like to share a few thoughts on one issue borne from the intersection of big data and risk management – and that's the issue I refer to as Big Data Governance. Big data governance refers to both the challenges that big data trends present to corporate ad IT governance programs, and to the governance opportunities that big data enables, for example in the area of risk intelligence and surveillance. I'll cover this in 2 parts. This piece centers on the challenges. Part II will be the opportunity side.

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A Four Letter Word to De-Risk Banking Online

By Michael Versace

This is a cross post of a blog and IDC Link publshed earlier this week that talks about a "community" initiative to advance internet security to a point where the web could be positioned as the preferred channel for financial e-commerce.

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Oracle Openworld 2012

By Michael Versace

Just getting back to Framingham from three busy days at OpenWorld

Excellent trip all-in-all, coming back to a bunch of new client projects and a clear perspective for what Oracle's new online banking app (OBP) means to both bankers and to Oracle. Also, with innovations announced during the show this year around Oracle cloud, social, big data infrastructure and analytics offerings, and discussions with bankers at the show, the event provided the chance to refresh my points of view on Oracle's role in the financial services market, and of the appetite for what Oracle provides the market on several fronts, including applications, infrastructure, services, and overall vendor relations.

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