Maybe 15 years ago, I said at a banking technology conference that banks must move away from multiple data formats, even from multiple operating systems and databases. I said that banks needed to adopt a common data format and structure under which all parts of the data banks were accessible, even if they were in discrete databases. The tech companies were angry. Most of the banks couldn’t see the point. But there is a slow move towards common databases within companies. But it’s not a move away from proprietary databases -it’s largely driven by companies promoting “big data” – and, of course, promoting their own hardware and operating systems and data formats as the system banks should use, thereby creating a monopoly within a bank instead of an open standard which drives down costs.
These are the things that concern me in our abnormal versions of normal and which, as huge parts of the world return to one form of lockdown or other.
Be safe and well, look after yourselves and those around and you be cautious in your decision making.