Business systems developer and architect Joe Piscatelli said he uses a lot of financial systems systems, especially those used by big banks, as part of his job.
“There’s a lot more that banks have to deal with than what we do, especially in the banking industry,” he said.
Piscati is a co-founder and chief technology officer of Piscotech, a small, nonprofit technology startup that specializes in software to help banks manage their systems.
“If you think about how much of the world is relying on financial systems, it’s just insane,” Piscato said.
“A lot of the banking system is in the hands of the banks and banks don’t want to change it, so they keep their systems the same.”
He added that banks are very comfortable with the way their systems are set up, but that they are not happy with how banks have been used.
Pincatelli says the industry is in a “post-bankruptcy era,” where banks are looking to use their own systems, instead of the best available alternatives.
PISCATO: “You have the banks that are basically trying to get into the business of providing the services that the bank wants, but you also have a lot that is not being done, and you have a huge number of vendors who are not able to deliver what the bank is going to be paying for.
So, it kind of makes it harder for banks to be successful.”
“You don’t need to go to the big banks. “
There’s a whole slew of banks out there that are not really doing it the way they should be doing it.” “
You don’t need to go to the big banks.
There’s a whole slew of banks out there that are not really doing it the way they should be doing it.”
Banks are not the only ones facing a difficult financial system.
Many small and medium-sized businesses have to make tough decisions about what to do about the financial system, said Piscatori.
He said he has dealt with some “financial problems” that have been frustrating, but not insurmountable.
“But it’s not a hard financial system,” Pissato said, adding that he thinks “people can make it through it.”
“If we just did what they do now, we wouldn’t have these financial problems,” PISCATE: “But we’re a small business, we’re in the middle of the recession, and we’re looking at this like, what’s the best way to get through this?”
Piscatato says the best place to start for small businesses is to look at the other big players in the market, which he calls the “corporate giants.”
The big companies are looking at how to better serve their customers.
“The only thing that matters to the companies that are competing with us is the customer service,” he added.
The big players are trying to make things easier for their customers, but they’re also trying to create more value.
PISCO: “So, there are a bunch of things that have to happen in order for them to provide the services they are paying for, and they’re trying to do things that make it less convenient, and that’s why the prices have to go up.”
“We’re not going for the lowest prices, we’ve been around for a long time.
We’ve done a lot with low prices.”
The bigger companies, Piscateri said, have to come up with new and innovative ways to provide value to their customers and get their products to the customers.
PINCATO, THE TECHNOLOGIST: “The big companies, they want to offer more services, but if they’re not offering more services to the customer, then their customers are going to go elsewhere.”
“It’s a tough situation.”
The Financial System Information Systems Act passed in 2007, aimed at improving the way the financial industry works.
It sets out to make it easier for people to find out how their financial accounts are being managed and to make sure that they have access and control of their financial information.
It also requires big banks to make certain that their systems meet the standards for financial institutions, so banks can provide the most affordable products and services to their clients.
The act also includes a rule that requires banks to create “consumer confidence” policies that are more transparent, and to ensure that their financial systems are free from fraud and waste.
And it says that the Federal Deposit Insurance Corp. must be allowed to “establish rules for ensuring that the integrity and security of the financial information system is protected.”
That’s not always easy, though, as Piscatto said that many of the rules are not in place yet.
“It takes time,” Pincato said about the FDIC.
“Because we don’t have a clear regulatory framework, we have to figure out how we’re going to