According to the FCA, more than 90% of UK financial firms still rely on legacy technology

The Financial Conduct Authority (FCA) released a report that found 92% of UK Financial Services Firms (FS) still rely on older technology.

Broken down, that is 58% who rely on “some” legacy infrastructures and apps, 33% admit that “most” of their technology is legacy, and only 8% say they are not at all through technology debt be charged.

The FCA also shows that 78% of data from FS companies is still in the local infrastructure. Of the 17% of …

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