Gert Raeves, Research director at Adox Research, continues his conversation with Neil Vernon, CTO at Gresham, to look at complexity in the legacy reconciliations space.
Part 4: The 3 Stages of Data Control
Navigating Complexity in Reconciliations
How can firms identify what can be simplified versus what is inherently complex? Tech firms are relentlessly pursuing simplification where they can - but the quest for simple has its limits. Many business and tech processes are unavoidably complex - so how can a firm like Gresham help mitigate the risk of complexity? That complexity is not just technological - it is also organisational, cultural and driven by the unique complexity of the financial services industry.
Neil will discuss root causes of complexity, their impact on firms' ability to change/be agile, and what tech firms can do to help.
“Replacing legacy means you need to be brave, bold. Don't copy something from a legacy system if you don't know what it is for - switch it off! If you have an agile platform you can quickly course-correct and implement just the controls you need”
Catch-up with Part 1: How to build a platform that can deal with any type of data
Catch-up with Part 2: Debunking myths around silver bullet technologies
Catch-up with Part 3: Collaborate to innovate