UK finance watchdog spends millions 'enhancing' Workday software rolled out 4 years ago

The UK's financial regulator is signing a deal worth up to £12.3 million ($15.9 million) with tech services biz Cognizant to make "enhancements" to a Workday HR and finance system it implemented several years ago. According to a recent contract award notice, the Financial Conduct Authority said it hired the systems integrator …

[Andy Mac]

“…whether it was ever intended to achieve genuine change”

Are they talking about technology transformation or financial regulation?

[Like a badger]

Both.

FCA, Pension Ombudsman, Prudential Regulation Authority, BoE, all designed to be as toothless as possible to appease City interests.

[UnknownUnknown]

Add Information Commissioner, Ofwat, Ofgem, Environment Agency and Ofcom to that list of shame.

[UnknownUnknown]

I’m struggling to see what the FCA need a HR and Finance System for to spend £12.3m on a 5 year enhancement for ?? That’s enhancements, not a wholesale upgrade or replacemen provision.

They don’t make anything, they don’t sell anything, they have only around 4.000 staff. Although they do a complex job, it’s all governance, policy, management of Financial Companies, some fines and fees levied to fund itself.

[elsergiovolador]

Sheet

Can't they just use Excel 95?

[TReko]

Re: Sheet

Excel 95 is better than Workday financials - but it doesn't have the cool salespeople.

[AMBxx]

What am I missing?

They're changing the software to meet new requirments in a changing environment. What's the alternative?

[UnknownUnknown]

Re: What am I missing?

FCA normally write those requirements.

Some less shit FCA Mandatory Training for the industry would be welcomed.