• 21 Nov, 2012 07:00 am

As the financial services world emerges from the financial and economic disasters of recent times, it will generate an explosion of change from market structures to regulatory objectives and, perhaps most importantly, a return to meeting the needs of investors and society as a whole.  History will determine if the future years of change are successful, or fraught with anxiety and danger. What is certain is that it will be the most challenging time that the various protagonists in financial IT have experienced in their lifetimes. Technology of all types will be the bedrock of change. To a great degree, it will be the capability of technologists allied with the imagination of management that will be one of the key determining factors of industry success.  There has been criticism of the financial services industry. It has lost the respect of politicians, regulators and the public. It has been accused of being too defensive of change and protective of outdated practices and systems. This might be an unfair reproach for particular financial institutions, but this statement will resonate more or less with everyone to a point. This new publication, Financial IT, intends to be vibrant and to question convention and established practices. It will be an advocate for change where change is necessary. This is an important point to make, as although all in the garden is not rosy, there are certainly many things that financial institutions do well: it is very important that this be recognised and applauded.