Couverture de Don’t Break the Bank: Run IT, Change IT

Don’t Break the Bank: Run IT, Change IT

Don’t Break the Bank: Run IT, Change IT

De : Matthew O'Neill
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 A podcast for curious minds in the financial services industry. Working in IT in the banking sector, it is easy to focus on keeping the lights on. In this podcast, host and Financial Services Industry Managing Director at VMware, Matthew O’Neill along with fellow VMware colleagues will explore the challenges and different facets of life in banking keeping CIOs awake at night. The goal is to transform the way banks and other financial service providers work and to provide the hose to put out the fires!© 2020
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    Épisodes
    • Looking back at looking forward, 2022 & 23

      Looking back at looking forward, 2022 & 23
      Dec 21 2023

      This is not so much of a best of episode as a taster for some of the topics we have covered and to tease / encourage you to go listen to the prior episodes.

      3 Takeaways:
      • We have had a diverse group of guests, customers, partners, industry thought leaders and colleagues.
      • The deep dive has given us a rich conversation into the heart of some of the meatier topics of Financial Services, Technology and FinTech.
      • You can find all of our episodes at dontbreakthebankpodcast.com

      Featured Guests:

      • Leda Glyptis, Advisory Board Member for Incuto
        • Follow her on LinkedIn
        • Episode Link
      • Ray O'Brien, COO at Quantexa
        • Follow him on LinkedIn
        • Episode Link
      • Spencer Kimball, CEO at Cockroach Labs
        • Follow him on LinkedIn
        • Episode Link
      • Ian Ellis, Founder of the London Enterprise Tech Meetup
        • Follow him on LinkedIn
        • Episode Link
      • Paolo Sironi, global research leader in banking and financial markets at IBM, the Institute for Business Value
        • Follow him on LinkedIn
        • Episode Link
      • Spiros Margaris, VC, Advisor, and Board member at Margaris Ventures
        • Follow him on LinkedIn
        • Episode Link

      One last thing.

      Lenka Kanakova has been behind the scenes supporting and promoting us both in the podcast and in all the other Financial Services activities at VMware. Lenka is leaving us and we want to thank her for her dedication, support, and good humour. All of us wish you the best of luck for the future, thank you.

      About the Hosts

      Matthew O'Neill is a husband, dad, geek, and Industry Managing Director, Advanced Technology Group in the Office of the CTO at VMware.

      You can find Matthew on LinkedIn and Twitter. Listen to his episode on DORA here!

      Brian Hayes is an audiophile, dad, builder of sheds, maker of mirth, world traveler and EMEA Financial Services Industry Lead at VMware.

      You can find Brian on

      LinkedIn

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      37 min
    • Bridging Gaps in the Banking World: An Insightful Talk with Joy Macknight

      Bridging Gaps in the Banking World: An Insightful Talk with Joy Macknight
      Nov 7 2023
      In this captivating conversation, we have the pleasure of hosting Joy Macknight, the first female Editor of the prestigious publication - The Banker. Join us as we journey through Joy's illustrious career, starting from her double major in biology and environmental studies to leading a team of editors and reporters covering the international banking industry. She shares intriguing insights into the challenges and innovation within the banking sector and talks about her journey to becoming the first female Editor of the Banker.We explore the ever-evolving landscape of sustainable banking and finance. We discuss how banks are redefining their reporting, the challenges of comparisons, and the need to include new criteria such as biodiversity and social aspects. We then venture into the realm of Open Banking and Open Finance, whose potential in the UK is yet to be fully tapped. We also discuss the revolutionary potential of open banking and digital identity, touching on the significant role banks could play as trusted sources of digital identity certification.Our conversation then shifts to the importance of gender focus in designing financial services and products, highlighting the potential for products tailored specifically for women. We examine the need for diversity in banks, the sobering reality of gender parity as per the ANF Gender Balance Index, and the various dimensions of diversity. Finally, we delve into the potential impact of quantum computing on banks and how banks need to gear up for this technological advancement. Listen in as Joy shares her thoughts on all these topics and invites everyone to join the Banker Publication community.3 Takeaways:Importance of Gender-Inclusive Design: Joy highlighted the significance of designing financial services and products with women in mind. By considering the different needs and life journeys of women, banks can create more inclusive and tailored offerings. Designing with a gender focus can also empower women and drive financial inclusion.Long Road to DEI: While progress has been made, there is still a long way to go in terms of diversity, equity, and inclusion (DEI) in the financial services industry. Achieving gender parity alone is estimated to take around 140 years, highlighting the need for continuous efforts to foster diversity and equality in all aspects of banking, including leadership positions. 3. Quantum Computing as a Game-Changer: Joy discussed the potential impact of quantum computing on the banking industry. While it poses risks to current cryptography systems, it also presents opportunities for improved market intelligence and algorithmic capabilities. Banks should invest in understanding quantum computing and build the necessary talent to stay ahead in a rapidly evolving technological landscape.Quantum Computing as a Game-Changer: Joy discussed the potential impact of quantum computing on the banking industry. While it poses risks to current cryptography systems, it also presents opportunities for improved market intelligence and algorithmic capabilities. Banks should invest in understanding quantum computing and build the necessary talent to stay ahead in a rapidly evolving technological landscape.Key Quotes:Some of the really interesting and quite innovative and new instruments that they're bringing to the capital markets, I think is really fascinating. And again, I think, the pressure of the impending climate crisis is just what we're facing at the moment really necessitates the banks to act, and what I feel is that they are doing that right so they're taking it very seriously they're moving into actually into the whole supply chains of their of themselves, but also of their corporate clients, and this is what we need to actually make a huge change.​​When you think of banking as a service, a lot of banks are already starting to think about that. They're thinking about embedding their services and other platforms or other apps.Then they're also thinking about creating their own super apps so that everyone can, you know, work through the banking app to access other lifestyle activities that you want to do, et cetera.Looking at gender data and actually unpicking that, and then finding out what makes sense, not just male customers, but also female customers, because a female's life journey can be very different, right?And if you're just designing products for men, with men in mind, then you're actually missing out.So why not design a pension for women specifically.It comes to financial inclusion, but also female empowerment, etc. And then getting funding to women entrepreneurs is also a big thing that they're working on, which I think is really important.When you look at it from a gendered lens you can really see that there has been some impact, but at the same time it hasn't been enough in terms of all the different levels within the banks.And I think that's really important when we talk about designing financial services products ...
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      53 min
    • Exploring DORA

      Exploring DORA
      Oct 24 2023
      In this episode, our podcast host, Matthew O’Neill takes us on a deep dive “Exploring DORA”, Europe’s new Digital Operational Resilience Act which is being suggested, will be as significant for Financial Services as GDPR has been to the rest of us.Matthew discusses the key provisions of DORA and how it aims to ensure the robustness and resilience of the financial system in the digital age. We'll uncover Matthew’s take on the motivations behind the act, its implications for financial institutions, IT service provider partners, and even the regulators, all with the aim of providing protection for consumers. From cyber threats to operational disruptions, DORA's framework addresses a wide range of risks and sets new standards for digital operational resilience. Matthew makes it clear that regulators from other jurisdictions are watching with interest.In addition, we learn of Matthew’s unprecedented journey in the financial sector; from an office junior at a local bank in the UK to becoming the Head of Infrastructure and Operations in Asia and then the Global Head of Data centres and IT Service Management at one of the world’s largest banks, and then on to his landing here at VMware. Matthew’s take on DORA gives you a true insider’s perspective. It’s a must-listen!3 Takeaways:DORA emphasizes that operational resilience is not limited to financial services firms alone. The entire ecosystem supporting critical services must be considered. This means mapping out end-to-end processes, understanding who and what is involved, and ensuring full observability to keep things running optimally.DORA introduces a significant shift in regulatory testing. Supervisors will now conduct tests on production systems especially where these are sharing cloud infrastructure with multiple firms. Stress testing operational resilience will become a priority, moving away from a mere tick-box exercise.To comply with DORA's requirements, both financial service providers and their partner firms should invest in regulatory risk professionals and banking risk specialists. The act will challenge existing assumptions and practices. It might reveal whether claims of regulatory constraints are genuine or merely used as an excuse for avoiding technological advancements. This suggests that firms will need to navigate a potentially uncomfortable period of reevaluation and adaptation.Key Quotes: It's not just about the financial services firm.It's also about, the whole ecosystem that supports you in the provision of what are deemed as critical or important services. So, if you have one of those types of service, you've really got to map out end to end, how that operates, who operates through, who's touching what part of it and making sure that you're not just monitoring it, but you've got like full observability as to what's going on, who's doing what, where, when, and why, and if anything goes wrong, how quickly you can bring that back.The big differences now though, is that there will now be testing performed and you've got to perform tests, but it's also the supervisors are likely to be performing tests and they'll be performing tests on production systems that are potentially running on the same cloud infrastructures as many other [financial service] firms and many other firms. So, there's going to be much more stress testing of that operational resilience than it ever being a kind of a governance, tick box exercise. So I think that's one thing that's got folks concerned.What's going to happen here is there's going to be an increased level of transparency. I can kind of say maybe an implicit increase in levels of trust between FSI firms and their supplier partners, because the supplier partners are going to be held to account for what's running. And if they don't know what's running,that's a little bit of a hard position to be in. So, I think an unintended consequence of this is actually going to be a greater amount of visibility. for the firms that are uncomfortable with that, and there will be some, then their risk appetites might take them back to, ‘Oh, actually now we need to be doing more on prem or we now need to move some of that workload away from public clouds and into colo facilities or back into data centers.’ Or vice versa, ‘actually, we've got such a great relationship with this.Hyperscaler, we need to put more with them.’”The more critical service providers and partner firms that we work with need to seriously think about employing some banking risk managers and regulatory risk professionals to help them navigate the potential of where this could go. I think it's going to be a little bit uncomfortable for a little bit of the time. One of the objections that often comes up talking with a customer about implementation or the potential to, to consume more technology is, ‘Oh yeah, the regulator won't let me do that’.or, ‘that's against our regulatory stance’. Or ‘the regulator is used in ...
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      53 min
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