Corporate Governance constitutes the accountability framework of a bank. IT Governance is an integral part of it. It involves leadership support, organizational structure and processes to ensure that a bank’s IT sustains and extends business strategies and objectives. Effective IT Governance is the responsibility of the Board of Directors and Executive Management. Access to reliable information has become an indispensable component of conducting business, indeed, in a growing number of banks, information is business. Today, almost every commercial bank branch is at some stage of technology adoption: core banking solution (CBS), or alternate delivery channels such as internet banking, mobile banking, phone banking and ATMs.
There I was shooting the breeze with an old mate. The conversation turned to why Madge Networks which I wrote about here went titsup. My analysis is that Madge Networks had a solution and decided to go out and find a problem. They deferred to more incorrect strategic technology choices. The truth of the matter is that when something goes titsup, its not because of one reason only, but a myriad of them all contributing to the negative consequence. There are the immediate or visual ones, which are underpinned by intermediate ones and finally after digging right down, there are the root causes. There is never a singular root cause for anything but I'll present my opinion and encourage everyone else to chip in. All of them together are more likely the reason the company went titsup. As far as technology brainfarts go there is no better example than Kodak . They invented the digital camera that killed them. However, they were so focused on milking people in their leg