As a consultant and software vendor for Central European banks, particularly those with total assets ranging from €5 to €100 billion, we’ve observed increasing pressure on boards to reduce IT operational costs. Every year, we negotiate pricing adjustments to account for inflation, sometimes engaging in lengthy 3-6 month discussions for a modest €10k increase in annual maintenance fees. While we understand the bonus criteria for senior management (B-1 level), the impact of inflation on wages cannot be ignored.

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The Financial IT 2024 conference, now in its 12th year, brought together top banking executives, IT decision-makers, leading consultants, fintech gurus, and key banking IT suppliers to discuss the hottest trends in banking IT. This prestigious event delved into not only technological innovations but also the business aspects of banking digitalization. From IT spending to efficiency improvements and artificial intelligence, every critical topic was covered.

While changes in regulations related to payment services may seem disconnected from the lending business, the market is indeed undergoing a significant transformation. Let’s delve into how!