High tech meets low finance

Nice article in the economist about tech and finance

"TECHNOLOGY ought to have revolutionised finance more than any other
industry. After all, modern money is mostly an entry on a computer—capable
of being transmitted instantly and virtually costlessly around the world.
Stockmarket activity is now dominated by high-frequency traders, who make
deals faster than they can blink.

The finance sector spends more on technology, as a proportion of its
revenues, than any other industry. Nevertheless, compared with the world of
e-commerce, banking still sometimes gives the impression of a Volkswagen
Beetle instead of a Formula 1 racing car. It took many years of effort to
get to a world of “T+2”, where securities are settled two days after the
trade is made, rather than the “T+3” system that preceded it."

Read more ...

http://www.economist.com/news/finance-and-economics/21694531-all-money-spent-technology-banking-not-efficient-high-tech-meets-low

I think we need to try to use the web to create more progress, in this
area.