“The bigger the bank, the harder it is to get anything done,” claimed Marc Champ, managing director at Wharf Financial Services Ltd, when asked how important it was for banks to pilot tech updates.
He commented that larger banks should be leading tech, “because they have got the bigger budgets, they probably have the staff numbers to be able to do it but, unfortunately, the amount of red tape they have to go through and get all these different levels of sign-off, you just can’t do it”.
“So, nothing gets done and then they miss the boat and they go to the back of the line.”
The event — which took place on 12th February at Watson Farley & Williams’ offices in London and was chaired by Medianett editor Beth Fisher — was supported by Aurius from Apak, a Sopra Banking Software company.
Mark Elliott, business development manager at Aurius, was joined by Ranjeev Kumar, partner at Watson Farley & Williams.
Also in attendance was Jon Hall, chief commercial officer and deputy CEO at Masthaven Bank; Mark Evans, chief information officer at Hodge Bank; and Nick Baker, head of intermediaries at Allica Bank.