Technology Executives Have a Need for Speed
Our editors asked experts across the financial services industry to predict the hot technology topics for their sectors in 2008. Despite some unique sector-specific challenges, universal themes emerged that span the insurance, banking and capital markets businesses. In the coming year, data management, business intelligence and risk management will be top of mind for financial services technology executives. But one premise unifies almost all of the predictions for next year: speed. IT executives are looking for the fastest ways to make effective business decisions about everything that goes on within their organizations and to deliver services to market.
Unified Communications for Capital Markets
By Lou Eccleston, Chairman and CEO, Pivot
The hot topic in 2008 for capital markets technology executives will be how the rationalization, certification and integration of communications tools with legacy desktop systems and proprietary applications will create competitive advantages for capital markets end users. Software industry giants tell us that "unified communications" will transform business in the coming decade. However, they have yet to define how that translates into revenue for the capital markets.
Lou Eccleston, Pivot
I agree that communication technologies that use software to deliver complete communications -- messaging, voice and video -- hold some powerful possibilities. But, for all the money being spent on this in capital markets, we continue to see a proliferation of legacy desktop services that sit mostly in their own silos. Along with these desktop systems, we also see an unending number of new communications technologies that are all about communication but don't talk to the systems on the desktop that are the primary tools used to manage customer communications.
Unified communications must evolve from an internal focus to an external business focus on integrated customer collaboration. In 2008, technology executives will be called upon to challenge the existing paradigm and make decisions to provide integrated solutions that improve business performance.
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