Deutsche analyst and author of "Blockchain - attack is probably the best form of defence", Thomas F Dapp has said that the biggest obstacle to innovation faced by big banks is their legacy systems. He thinks this problem could take five, or maybe 10 years, and a lot of money to solve. It is estimated that big banks collectively spend around $20bn a year in running and maintaining existing systems.
Deutsche Bank analyst and author of "Blockchain - attack is probably the best form of defence", Thomas F Dapp has said that the biggest obstacle to innovation faced by big banks is their legacy systems. He thinks this problem could take five, or maybe 10 years, and a lot of money to solve. It is estimated that big banks collectively spend around $20bn a year in running and maintaining existing systems.