Anyone looking for a striking image of what makes technological innovation so difficult in traditional banking need look no further than the extraordinary 3D model that Rabobank constructed of its IT systems back in 2017.
The model, which took months to construct, is a bewilderingly intricate mass of connections between thousands of desks, showing the ways in which all the different systems communicate – or fail to communicate – with each other.
Seven years on, it is fair to assume that banks have probably not got any simpler.
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