Time to upgrade
Q. Given the potential upheaval involved in upgrading an IT system, is it better to do this before or after the start of regulation under the FSA?
Technology offers an excellent opportunity for brokers to reduce the cost base by automating the more mundane tasks and help increase revenue by allowing client banks to be mined for sales opportunities. However, in many cases, too much emphasis is placed on the data, which can be recorded, and too little on the ability of the software to provide meaningful information in line with the needs of the business.
The regulatory regime under the Financial Services Authority will focus on the systems
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