Messy IT systems are a neglected aspect of the financial crisis
No industry spends more on information technology (IT) than financial services. Yet the role of IT in the crisis is barely discussed. It should be. Corporate IT systems—collections of computers, applications and databases—always tend to be messy, but those of banks are particularly bad. This results in a lack of transparency, bad data quality and difficulties to track a bank’s overall risk exposure.
Read the full article that the Economist published in December 2009 why banks should opt for integrated IT solutions.