In a 10 page statement , lobby group techUK has said " outdated technological foundations " constrains the role of traditional banks and other players in the financial services sector from meeting the challenge of innovative new entrants to the market . TechUK said the industry has been too slow to deploy new technologies adding that a decisive and faster process of change is needed with senior managers leading the change .
In a 20 page report, lobby group techUK has said "outdated technological foundations" constrains the ability of traditional banks and other incumbents in the financial services sector from meeting the challenge of innovative new entrants to the market. TechUK said the sector has been too slow to deploy new technologies adding that a decisive and faster rate of change is needed with senior managers driving the change.