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David's point on inventory and change control is spot-on. If only more banks had a handle on their exposure in this area. There's much talk but little action re Basel's concern over EUC risk, while there are firms out there with great tools to help construct not only the application inventory but also the data paths between the applications. The financial sense, if only in reduction of the capital adequacy haircut seems obvious.

An interesting approach, quite the reverse of the classic (but seldom adequately actioned) ploy of teaching coders to understand the business.  I sure JPM isn't guilty, but how many man hours (years?) have been wasted trying to untangle systems created with no quality or change control by various business experts who 'dabbled' with complex cross-linked spreadsheets and access databases. A little knowledge can be a dangerous thing?

So good to see the word "enabler", a positive thing, rather than "disruptor", generally perceived as negative. In these times where collaboration is almost essential, disruption sets the wrong tone. The purpose of innovation is at least one (or all) of three things: (1) reduce cost of the basics; (2) force basic suppliers up the value chain; (3) enable stuff that's not been possible before.  These are only disruptive if incumbents fail to act on these points.