The single standard allows a bank to monitor its counterparty risks globally, streamlines back office processing and reduces costs in data management.

FORBES: "Global" Bank Regulation -- Stranded in the U.S.?

The big breakthrough was when Citigroup signed up I-flex to centralize its back-office processing in Europe and subsequently to roll out Flexcube in 97 countries.

FORBES: Magazine Article

As a Sibos speaker noted some years ago, the front office will never stop trying to devise complex new ways to make money, and it certainly will not be deterred in its quest by any potential processing problems its innovations create for the back office.

FORBES: Connect