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RAPPORT

Investment banks: Beware Bespoke

Custom systems

From Wall Street to Marunouchi, investment banks have long favored the bespoke, whether selecting suits or systems. While the price of suits is a personal matter, the price of bespoke business and IT systems is of shareholder concern.

Investment banks’ continued reliance on customized, in-house legacy technologies is costing them, in an age where cloud-savvy competitors are using technology to help achieve game-changing Return on Equity (RoE). Accenture research shows that moving to as-a-Service, cloud-based solutions could help a large investment bank achieve an average of a 1 to 2 percent increase on RoE, the equivalent of savings in excess of $1 billion.

Given the competitive situation—60 percent of capital markets institutions say that cloud-based entrants will challenge traditional industry models—moving to as-a-Service (aaS), cloud-based solutions seems to be a logical route for investment banks to take now, before restless shareholders begin banging the drums.

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