Since we set up eCo we’ve spent a tremendous time explaining why. We felt the zeal from the start but the more we stand back and survey where banking IT now finds itself the more we’re driven to bang on about it. But perhaps it’s time for us to quieten down for a while.
In the process of trying to figure out where eCo might first/most be useful we’ve accrued all sorts of data about the extent and nature of spending patterns, the range and complexion of the software assets that continue to be built and maintained, and the community of players who, for now at least, are regarded as peripheral.
This background informs two strands of discussion. The first – an analysis of the increasing duplication of non-diminishing multi-billion dollar expenditure – can be summarised as, “Stop! This is madness!” Each new datapoint, and new datapoints come all the time, re-loads the weaponry. After a while, though, this begins to feel like pub talk: the complaints of the righteously indignant.
The second strand of discussion concerns what to do about it. After all, we didn’t set up eCo as a talking shop to compile facts as fuel for the bonfire of our frustrations: we set ourselves up with a concrete model for change. These discussions are higher quality. We have the best of them with people who know, viscerally through experience, that the financial sector has to transform its IT investment process, and that necessity is driving it to do so soon. These people are fully clued on the status quo and have already explored, concretely, many potential paths to a more sustainable and optimised future. Like us, they have found that the natural paths forward that have been tried so far are problematic or blocked. Until you have run into this, eCo’s legal and technical architecture can sound somewhat abstract – just another of those things that are being tried.
Before I left for vacation we had more conversations with people who really get it – people who believe that this industry is about to change quickly and who want to prosper from helping to bring that change about. To them what eCo offers, and all that it offers, is the timely appearance of an open door. That’s an image that we’ll be using more.