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Banking Information Technology (B.I.T.)
March 19, 2006  
Banking Information Technology (B.I.T.)
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The Banking Information Technology (B.I.T.) Cell Series has been created to meet the information needs of the highest-level executives involved in leveraging IT for their businesses. The group consists of C-level officers (CIOs, COs, CEOs, etc.), Presidents, Vice Presidents and Directors. These company leaders are broken off into focus groups (Cells) with other executives who share common business concerns where they will have continuous meetings with customized content to reflect those issues.


If the 1980s were about quality and the 1990s were about re-engineering, then the 2000s will be about velocity. About how quickly business itself will be transacted. About how information access will alter the lifestyle of consumers and their expectations of business . . .The successful companies of the next decade will be the ones that use digital tools to reinvent the way they work.
Bill Gates

The role of the IT executive is to help facilitate the quick transfer of information and ideas throughout the entire company. It is therefore paramount that IT leaders remain one step ahead of the curve and expose themselves to the most efficient form of idea sharing and problem solving available. Staying informed is the first step towards remaining competitive, which is the next step towards becoming an industry leader.

The prevalence of technology in industry is pushing the boundaries of what once was possible and now is possible. Industry that used to rely solely on a paper trail, such as banking and finance, is now continuously adding integrated solutions to its offerings to help customers access their money and manage their business. In both the front end and the backend, retail and investment banking are becoming more sophisticated and more technical. However, to manage this massive flow of highly confidential and selective data requires vast infrastructure and leading edge technology. When outside elements threaten the life-blood of the financial network – trying to steal identity, siphon off funds and disrupt stock market trading – technological protection is something people need to be able to take for granted.

Despite the immediate differences in their applications of technology, IT leaders all share similar concerns and problems. The need to network with peers in order to understand the information and technology solutions available amongst the myriad of possibilities is necessary to maintain competitiveness. Constant challenges such as rolling out new technology to replace archaic methods, providing maximum network and infrastructure security, and ensuring the advantages of new technology are utilized properly through training and support systems, make constant communication throughout the industry vital to success. Honeycomb Connect’s executive-to-executive (e2e) networking solution has enabled that communication to be constant and without boundaries.

Honeycomb Connect B.I.T. members are matched into focus cells of around 50 like-minded banking IT executives – based on their responses to an extensive profiling survey. Members will receive biographies for each executive in the Hive.

They will then participate in regular web meetings throughout the year on issues and topics requested in their profiling, culminating in a face-to-face conference where members will meet, share and learn with sponsoring solution providers, their fellow cell members and CIOs from other cells.

Technology executives face a daunting task and the dependence that business puts on their initiatives and decisions is massive. The world has changed the way industries conduct business and has allowed greater access to the consumer, but the advantage is also fleeting and short-lived.Nothing changes as quickly as technology, and if the executives at the helm do not remain informed, they will become as obsolete as their hardware and software. Knowledge sharing amongst the individuals who make the decisions to keep their companies at the forefront of all that technology has to offer is an invaluable tool in this pursuit.

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