Like a large cruise ship, big banks aren’t know for their ability to move quickly or change direction at a moment’s notice. Banks’ size and regulatory requirements means fostering change is often times a marathon, not a sprint.Executives at Barclays, Morgan Stanley and Citi spokeon Monday at Business Insider’s IGNITION: Transforming Finance event about how they navigate these challenges and encourage innovation within big, unwieldy banks. As Amazon and Uber have raised the bar around what people expect from digital-centric companies, it presents banks with a unique technical challenge: How do they provide similar conveniences, while also remaining just as safe and reliable as they have always been? Megan Brewer, executive director and head of the technology innovation office at Morgan Stanley, Mariquit Corcoran, managing director and head of partnerships and programmes for group innovation at Barclays, and Gavin Michael, head of technology at the Global Consumer Bank at Citi, spoke Monday at Business Insider’s IGNITION: Transforming Finance event. Their discussion touched on the ways they entice technologists to work with their firms, how they encourage innovation within all parts of their companies, and the endless cycle of technological innovation. You can watch the full discussion here.
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