re: Smaller Banks Leverage Partners for Big Data Insights
The guy without legacy systems always has an advantage, but what if you simply get rid of your internal systems?
If you look at the complexity of banking technology, and layer in security, monitoring, auditing, DR, etc. It can be tough for a community bank to hire and retain someone qualified to run IT or afford to own, operate and maintain the infrastructure.
It is not a stretch to say (though many with a direct job in the roles will disagree) that community financial institutions under $500M and potentially up to $1B in assets should not have internal IT departments, but rather utilize a fully outsourced technology model.
There are very good companies out there performing these services now, and I would expect the usage to accelerate as end users get more accustomed to remote support while regulators push for better security and monitoring practices.