Goldman Sachs and JPMorgan not a bank?
Not the immediate thought which springs to mind when either is mentioned. However, perhaps the encroachment by tech companies into fields which were previously their domain has caused an epiphany.
Whether technology is as an opportunity or a threat these behemoths are taking it seriously and attempting to evolve the narrative and reposition themselves. The number (both total and proportion) of technologists at JPMorgan being technologists is an eye-opener. However, the devil will be in the detail as to how they classify a technologist.
Advances in technology should lead to improvements to the consumer and it is good to see some stalwarts of the financial world grabbing the nettle with both hands.
It is hard to disagree that coding is going to be (if not already) an essential life skill. In financial institutions, it should aid dialogue between disparate parts of the business and enabling individuals to appreciate an alternative way of thinking.
It is commendable that coding training (albeit mandatorily) is being provided but given its mandatory nature query whether the employees will grasp the nettle with both hands and embrace technology. In any event, whilst enabling certain of your employees to code is laudable to achieve greater aims I cannot see coding training in itself being a pancea for technology for financial instititutions.
With technology, from artificial intelligence trading to online lending platforms, shaping the future of banking, financial services groups are developing software to help them boost efficiency, create innovative products and fend off the threat from start-ups and tech giants.