But technology-driven information transformation is at the center of the even more important management, marketing, and risk transitions that banks must make. Information is only valuable if it can be put to work and used for decision tools such as programmed trading, target marketing, predictive credit modeling and scoring, amongst others.
Most new financial services are in fact based on technology creating ways to do them. The transition from an old world of data processing and information management to a new world in which knowledge is being put to work on competitive advantage will be a major strategic preoccupation in the years ahead.