July 2013: The Tail Wagging the Dog
![victor-anderson victor-anderson](/sites/default/files/styles/landscape_750_463/public/import/IMG/701/101701/victor-anderson-580x358.JPG.webp?itok=Yz2bKI10)
Incisive Media in London recently entered an interesting phase in its history: The majority of the firm’s London-based staff members are currently based in its Soho office, having steadily relocated there from Haymarket House, half a mile down the road, over the past three years. Now, that entire process is set to be reversed, and everyone will, sooner or later, once again be housed in the Haymarket office. This transitional period has provided the firm’s management team with a rare opportunity to undertake a technology and operational audit that is likely to result in everyone changing the way they work. Technology, naturally, plays the key role in enabling people to work more efficiently and flexibly, to the extent that now more and more employees are coming around to the way my colleague, Jake Thomases, recently described the concept of work: “Work is something you do, not a place you go to,” Jake explained. That pretty much hits the nail on the head, right?
But, like just about everything in life, there’s a catch—a number of employees, including me, have been testing out a range of new technologies, designed to free us from Incisive Media’s current model—where every employee has their own designated desk—in favor of a flexible, “hot-desking” set-up. As previously mentioned, technology plays the pivotal role in this new model, acting as the catalyst for change. But, as Sod’s law—or Murphy’s law, as it is known across the pond—would have it, the technology we’re trialing is acting as an inhibitor to change, although perhaps this is to be expected, considering that the bulk of it is cutting-edge and we’re mostly unfamiliar with it. However, given that the technology has been selected for us by our technology team rather than by us, the end-users, I can’t help but feel that in this instance, the tail is definitely wagging the dog, a scenario not unfamiliar to capital markets end-users. But I suppose that is the point of trial periods and user-acceptance testing.
A decade ago, it wasn’t uncommon to hear stories from end-users at buy-side and sell-side firms complaining that the systems they were using were forced on them by their technology teams, and that if they had been consulted regarding the functionality that they felt was essential for them to do their jobs to the best of their abilities, the technology would look a whole lot different. Of course, those conversations have become fewer and farther between, thanks to financial services firms learning from their mistakes. Now, when it comes to new technologies, especially those that impact end-users’ day-to-day lives, the standard operating model involves the business—the end-users themselves—dictating the look, feel and functionality of the system they require, while the technology team focuses on building or buying the application with the required ingredients.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
This Week: IPC extends Google Cloud partnership, BlackRock/AIA, DTCC and more
A summary of the latest financial technology news.
Waters Wavelength Podcast: Deutsche Bank’s Boon-Hiong Chan
Boon-Hiong Chan from Deutsche Bank joins the podcast to talk about blockchain interoperability.
SocGen pushes data, analytics use cases for SG Markets
The bank is letting a handful of clients experiment with its proprietary data and models to inform their research.
Ace high or busted flush? Digital Asset’s mixed fortunes mirror DLT adversity
The vendor hoped to remodel post-trade using blockchain technology—and it still might—but its bumpy progress raises questions over the future of DLT in finance.
AI could cut time for money laundering checks by 99%
Leading crypto exchange rolling out large language model for enhanced due diligence checks.
Standard Chartered keeps faith with quantum experimentation
The bank is aiming to future-proof itself with the ability to adopt new technology at an early stage.
Waters Wrap: CME, Google and the pursuit of ultra-low-latency trading
CME Group and Google have announced Aurora, Illinois, as the location for the exchange’s new co-location facility. Anthony explains why this is more than just the next phase of the two companies’ originally announced project.
This Week: Genesis/Interop.io; S&P Global; Finos/OS-Climate and more
A summary of the latest financial technology news.