Strong Mistrust of Banks Accelerates Risk-Related Spending

rick-avis-ubs-etas — The event was held at the Hilton hotel in Canary Wharf, London.

- By James Rundle
- @JimRundle
- 20 Nov 2014

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Speaking at the European Trading Architecture Summit in London during his morning keynote address, Rick Avis, CTO of enterprise architecture at the Swiss investment bank highlighted the cost of managing risk and compliance among top-tier banks. The proportion of IT budgets dedicated to managing risk, he said, is set to grow at an enormous rate.

"The amount of money we spend on IT, in banking, is very large," he said, pointing to publicly-available figures from banks over the past year. "We're

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