Deutsche Bank analyst and author of " Blockchain - attack is probably the best method 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 can take 5 , or maybe 10 years , and a lot of time to solve . It is estimated that big banks collectively spend around $ 200 a year in developing 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.