The Bank Technology Operations Committee
CO-CHAIRS
Roy Taylor
Enterprise Architecture,Fargo Bank
FSTC MANAGING EXECUTIVES
Dan Schutzer
John Fricke
The Bank Technology Operations Standing Committee (“BT SCOM”) works collaboratively to address enterprise scale architecture and technology issues. Leading financial services organizations face many of the same technology issues involving business necessities such as regulatory compliance (e.g. Sarbanes-Oxley). Other challenges involve what the OCC calls “Technology Risk Management.” Still others deal with understanding and integrating emerging technologies, complex linking of technology architecture to business issues, and managing and reducing the overall complexity of technology.
As an industry-wide community of senior enterprise architects, technologists, financial-institution executives, and FSTC-member technology companies, the BT SCOM will provide its members with opportunities to network on “hot button,” “over the horizon” issues and best practices; learn through teleconferences and workshops; and formally investigate technologies, requirements, and business solutions through collaborative research projects.
Most importantly, the BT SCOM will give the industry a way to address common issues collectively rather than in a vacuum, including:
- Industry-Wide Efficiency and Risk Mitigation. The collaborative nature of the BT SCOM will increase the efficiency of individual institutions and the industry as a whole. It will also optimize the risk management associated with the industry's vast operational and technological interconnectivity.
- Collaborative Regulatory Compliance Approaches. Because compliance and regulatory issues affect all institutions in many of the same ways, collaboration via the BT SCOM will reduce the costs of regulatory compliance and regulatory issues for the entire industry.
- Consistent Business Requirements. Consistent articulation of industry requirements to technology vendors through the BT SCOM will result in products that better meet the needs of the industry and at reduced cost.
- Articulation of Common Service Definitions. In the emerging world of “software as a service,” the industry can potentially reap significant strategic benefits by using the BT SCOM to craft a common set of requirements for some software services.
For further information, please Contact Dan Schutzer or John Fricke.
