Billions spent just to keep the lights on | Legacy banking systems ft. David Brear | 11:FS Explores

David M. Brear, our 11:FS CEO, takes us through #legacy #technology within #banks - but of course, with a really cool #lightboard.
In the old days of banking, banks were set-up to rely on a very physical presence, with a heavy reliance on physical processes.
Over the last century or so, what we've seen in banking is a need to remove paper processes and strip-back the necessity of people.
What has come to replace these things is just layers, upon layers, of technology.
With these layers comes an incredible amount of complexity. They present issues varying from data intelligence, to overall customer experience.
Maintaining these systems can result in billions of pounds being spent simply to keep the lights on.

[@brianfung5855]

These vids are so high quality. I don't understand the low number of views and subscribers. The line up for your interviews are incredible too.

[@sgt250]

Love these lightboard editions. Please keep them coming. Can't get enough of these visual sessions!!

[@justkaz7104]

Cheers David!

[@BoyanYurukov]

Do you know of successful implementations where ontologies help with those issues with divergent information models?

[@RobertJewkes]

So....what’s the solution for big banks? How do we get the stars and planets to align?