Modernizing architecture can reduce long-term costs
A perfect storm of regulation and accelerated tech advancement is forcing modernization unlike anything the markets have seen before, says Nasdaq’s Gil Guillaumey.
There is a lot of talk in the financial services industry about modernization and automation, but the reality is that too many banks and broker-dealers still base much of their network of business-critical data and processes on a complex web of spreadsheets and manual interactions. This has mostly been sufficient, with banks making do with a patchwork approach to new business initiatives, data quality improvements, and ever-increasing regulatory requirements.
But change is coming. The rate at
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