Banks Have the Tools to be Tech Companies, but Struggle with Talent

Banks are increasingly calling themselves technology firms, but the real picture is less clear.

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Blackstone's Bill Murphy moderated the advisory board panel discussion at this year's Waters USA conference in New York.
Infopro Digital

“Tech has come to the forefront—it’s no longer seen as just a support function,” said Ruth MacQuiddy, technology strategist at Deutsche Bank Innovation Labs, speaking at this year’s Waters USA conference held on December 4 in Manhattan. “Technology strategy is the core foundation of our future state, culturally and otherwise. We’re all evolving into technology companies that provide financial services and products.”

But while banks may have the tech nous to claim the title, industry veterans qu

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