Five FS Tech Predictions for 2015

San Carlos,California - 5 December 2014

Rupert Brown, CTO Financial Services at Enterprise NoSQL database platform provider MarkLogic,provides his perspective on what we’ll see in the news in 2015.

  1. A financial services company will suffer a major tier-1 system outage due to a failed Outsourced Database Schema change and loss of internal institutional knowledge.
  2. Organisations will be late in formulating their responses to the Basel Committee’s BCBS 239 principles, but won’t realise and/or admit it until November 2015.
  3. Regulators will lose patience with financial services firms that prefer to pay compensation rather than fix root cause issues.
  4. A financial services company will unwittingly install trojan/malware hidden in an Open Source piece of software – by luck the impact will be limited.
  5. An IT skills shortage, resulting directly from the high level of paper-based regulation facing firms, will hit major Financial Centres such as London or New York. This will deter firms from hiring new talent.

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