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Technology Jargon Buster

Algorithmic trading – This is trading on the financial markets that is undertaken solely by extremely powerful computers. Algorithms are able to manage some assets appropriately and respond to fluctuations in a market appropriately in a split second!

Front office – These are the departments of a bank who are directly involved in making money. Technology is a central to facilitating this.

‘Hacktivists’ – A nickname for cyber criminals.

Middle office – Technology also supports middle office activity; the area of a bank that supports the front office with legal or other financial issues.   

Rapid Application Development (RAD) – A technique often implemented in developing work in the banking finance sector. It involves developing bespoke products very quickly, usually for traders.

Developer – The experts who use their technical, mathematical and programming knowledge to develop software.