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 more than five 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.