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.