Part 1: What the Infrastructure Needs to do
Trades and Products
Where do Trades Come From?
The Purpose of the Infrastructure
Part 2: The Problems with Trade Processing Infrastructure
The Evolution of Technical Complexity
The Regulatory Challenges
The Complexity Cycle
Part 3: Historic Approaches to Transformation
Functionalisation, aka “Factories”
The Golden Middle
Part 4: New Approaches to Infrastructure
Cloud and Utilities
Artificial Intelligence and Robotics
Big Data and Analytics
Blockchain/Distributed Ledger Technology
Distributed Ledger Technology: Hybrid Approach
Any sufficiently advanced technology is indistinguishable from magic.
– Arthur C. Clarke
Information technology, particularly in finance, seems to have propelled us into an age of wonders. Blockchain will cut costs and remove intermediaries, artificial intelligence (AI) will rapidly replace traders and investment advisors with robots, big data will help make better lending decisions, cryptocurrencies promise to make us all rich with no effort, and everything to do with banking is done better using an app. Unfortunately, nobody seems to have informed the IT department. Inside banks, infrastructure creaks and occasionally fails, with spectacular results. Making changes is hard, simply running the systems is cripplingly expensive and even apps stop working every so often to load more bug fixes and resolve security issues. Why the disconnect?
To the average non-IT literate person, the world of coding, computers and networks appears a mystery if not an enigma. At the push of a button unquestionably mesmerising things happen. Understandably, expectations about what technology – especially digital technology – can achieve get over-inflated as a consequence. Since a huge