Art Gillis has been telling it like it is in the banking technology industry for 36 years. In this special edition of his online blog for Bank Systems & Technology, Art offers his unique outlook for 2007. Among his forecasts, Art says vendors will be challenged with making technology a lower-cost, more-adaptive resource, and financial institutions will reap the benefits.
The major challenge for tech executives in 2007 will be how to balance the demand for business growth while improving and streamlining operational performance and managing an ever-morphing risk environment.
Banking customers increasingly are using ATMs, the Web and other remote-access channels for transactions, but they still rely heavily on in-person visits to the branch and other high-cost delivery channels.
Mayor Michael Bloomberg, Governor Eliot Spitzer and Senator Charles Schumer endorse a McKinsey report that says New York City and the U.S. could lose their places as financial services capitals because of regulation.
By Art Gillis
June 14, 1983 - Art Buchwald sent me a letter saying he enjoyed my piece very much and I should send it to Personal Computing, Popular Computing, Info World and Byte for publication. I sent the article to Art Buchwald because after I had written it, I read it and it sounded like something he would have written. So I wanted to clear it with him first. Looking back at my records, it turns out I didn't take his advice because I was in banking, and generic publications didn't int