Join the Community

21,951
Expert opinions
44,041
Total members
412
New members (last 30 days)
163
New opinions (last 30 days)
28,660
Total comments

Should banks keep changing their IT systems with regulatory changes?

During my discussions with analysts , I observed that various retail banks especially mortgage lenders struggling with implementation of new regulations in their IT systems. Especially if you have a third party LOS, or legacy technology LOS, or 'heavily customized-unsupported-by vendor' LOS - it is going to be nightmare.

Also if you are in the process of IT /business transformation - moving to new LOS platforms might be forced to make changes both in the outgoing and incoming systems.

With regulations keep changing, can we think of different model? why dont we push some regualtory changes into operations /BPO - do-it-outside-your LOS - especially areas like documents or disclosures!

innovative ideas invited!

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

Join the Community

21,951
Expert opinions
44,041
Total members
412
New members (last 30 days)
163
New opinions (last 30 days)
28,660
Total comments

Trending

Kyrylo Reitor

Kyrylo Reitor Chief Marketing Officer at International Fintech Business

Future of SPI in Poland

Now Hiring