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Flexibility of IT Infrastructure as a Stress Test for Market Viability in Banking

Largely under the influence of FinTech, the robustness of internal infrastructure in banking went from being an industry norm to a disadvantageous hallmark of institutions in the financial services industry and beyond. Once efficient and advanced, legacy systems are now indeed a legacy – they no longer allow institutions to adopt innovation at the pace of technology startups and create a risk of falling into obsolescence.

FinTech, on the contrary, brought a different approach to building the core infrastructure and proved it to be an advantageous difference from institutional players.

As we have emphasized before, one of the core differences between the FinTech world and traditional financial institutions lies in the underlying technology and the level of freedom to build it. Unlike traditional banks, FinTech startups are free from legacy systems and operate mostly in the area of law that allows them to be relatively free. Hence, they can build their services on experimental algorithms and ...

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