The techUK Financial Services and Payments Programme launched its latest white paper, Taking the Initiative: Leading with Technology in Financial Services.
In the paper, techUK issues a challenge: decisive action is needed to deliver a more resilient, competitive and transparent financial services sector, better able to respond to the demands of consumers and businesses across the UK. The challenge from new market entrants, the rising expectations of digital consumers, increasingly stringent regulatory requirements, and the pervasive threat of cyber-attack means that established financial institutions can no longer ignore the inadequacies of outdated legacy systems. In its recommendations, the paper outlines how financial institutions can take the initiative and drive reform across the sector.
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