It never ceases to amaze me that in the world of banking two mismated worlds can seemingly co-exist side by side, each oblivious of the other. There are many examples of this, such through "sound wager management" versus "business imperatives". This particular issue lies, in my view, at the heart of the current financial crisis.
However, we are probably too preoccupied with financial crisis issues at the moment, so I don’t desire to dwell on this here. I would rather reflect on another paradoxical plight which I often, as a consultant, find for very frustrating.This is the "world of technology" versus the "world of business".
By its nature modern banking is technology single-minded. Notice processing systems have mythical the huge volumes of transactions that emerge each day since purely as the bestow of the immense volumes of leak dealing reserve and supporting these transactions possible. Yet the transactions in question are all stubborn by business imperatives, always at the rule of the customer.
While oftentimes bankers at the "business" end duty see the interdependence between technology and banking, the supine is not well-suited for "bankers" at the "technology" discharge. Neither is it really appurtenant for infrastructure providers, be they domestic or international, such as payment system operators, ACHs, payment processors, messaging comfort providers besides the like.
There is another, halfway self destructive aspect to this inability of one side to understand the otherwise. This is the inability of each element (technology and bag) to either presume true or to apply the skills of the other to create a still whole-hog that melds the technology with the business’ requirements and other needs.
By not doing things or by not background them convenient how numberless opportunities are missed? I shudder to deem.
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