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I could tell war stories about bizarre regulatory side constraints (my favorite: on location in a country with very strict banking secrecy laws; having to work in the basement, in case someone might see customer data through the window using a telescope), but if a bank today doesn't have its IT department in order, it won't be able to compete with those who do.

Some banks can be so weirdly huge, that one department may be developing a simple website with last decade's technology, while another has computer scientists working on algorithms for a high frequency trading system with microsecond accuracy, which may never at any point have an unscheduled hiccup of a fraction of a second. As far as challenges are concerned, it's hit or miss, just like in any other sector.

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