The problem is no senior technical people
Banks (and others) have removed almost all their senior IT technical staff. There is virtually no one left with sound IT knowledge who is senior enough that senior management will listen to them. Junior IT staff (with sound knowledge) are so low in the totem pole that the Board and senior management will not listen to them and the bosses of the junior staff will not pass problems and misgivings up the chain for fear of their own jobs.
(Senior IT staff whose knowledge is hopelessly out of date can still be found - however they are part of the problem not part of the solution.)