Why no one can handle technology risk

IT missteps can destroy banks – boards need to take them seriously, argues author Patrick McConnell

technology-pic

Banking is an information-processing business and financial institutions have always been in the forefront of adopting new information-processing technologies, from card sorters in the 1960s to internet banking in the early 2000s and, recently, high-frequency trading software.

But within the last decade, as a result of new technologies such as smartphones, the balance of power between financial institutions and their customers has reversed. In the twentieth century, banks decided when and how

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: