Last week, IBM announced an agreement to acquire NoSQL database as a service vendor Cloudant for an undisclosed sum. An active contributor to the Apache CouchDB project, Cloudant delivers a JSON document database-based platform that claims high availability, scalability and elasticity amongst its attributes.
While cybersecurity and privacy are certainly "shared challenges" as the government itself has not taken the appropriate steps to rectify its own privacy violations, the government must take leadership in creating enforceable measures for the private sector and other organizations that will prevent the casual manner in which many companies still treat data.
Today, there is extra urgency behind the need for a shift toward innovation: many new financial services competitors that are small, nimble and on the cutting edge of technology entered the market right after the financial crisis, when established firms were busy licking their wounds. The old guard is going to need to stay on top of innovation just to keep up with the new guard.