Keep Tech Fresh: C-Level Execs Discuss the Need to Upgrade Platforms Consistently
A panel at NAFIS 2015 discussed why firms should be willing to upgrade their systems on a consistent basis.
Everyone likes an upgrade. There is a reason why the release of the latest iPhone always draws massive crowds and long lines. The same theory applies in financial services, where the appeal of the new latest and greatest is always there.
But as budgets are bogged down with compliance costs, it has become tougher to make a case for why a firm should upgrade its technology when, on the surface, it appears to be running fine. When and how to implement new technology and shut down old systems is big
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