Moonshots shelved: banks spend on home-working tech
Dealers made success of remote working switch – now they’re investing in its future, and pausing grander ambitions
In late 2019, UBS asked 20 of its traders to experiment with a so-called soft turret system, developed by fintech firm Cloud9 Technologies. Lee Fulmer, head of the investment bank’s innovation lab, expected the idea of replacing traders’ heavy-duty phone consoles with a software application to meet resistance.
“But at the end of the first month, all 20 of them asked to have another month to keep
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