by The Trade Editors
– Matt Barrett, CEO of Adaptive Financial Consulting
Next year will see attitudes toward front-office innovation change as it becomes increasingly clear that technology is not a cost centre but a revenue generator. Firms need to take control of their technology to differentiate and compete in the long-term. This shift in approach will drive two key themes.
The first is the increased focus on technological intensity, where institutions reduce their reliance on vendors to build their own technology to enable them to differentiate and compete. This changing approach to trading technology will drive institutions to move away from ‘off-the-peg’ technology, which is no longer enough to differentiate as they transition to taking front-office innovation into their own hands.
The second is the front office’s shift to the cloud. While the back and middle-office’s migration to the cloud is well established, the front-office has been slower to make the leap. Attitudes are changing however, and businesses are realising that the cloud is secure, powerful and gives firms easy access to rich data and analytics. We can expect to see front office infrastructure increasingly moving to the cloud, as it becomes the centre of a new financial ecosystem that will become increasingly integral to institutions’ operations.
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