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Submitted: Feb 20 2014 / 16:13

A recent report published by Tech Market View confirmed a 2012 warning by a director of the Prudential Regulatory Authority that the IT systems of UK banks were “antiquated.” and that he could not say with confidence that they are robust. The report goes on to stipulate that these problems are so acute that the major financial services companies will be forced to outsource significantly more of their IT to third-party vendors and reduce their reliance on in-house IT departments.
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