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  "documentTitle": "Fintech Beacon is working with Blackstone's quants, data scientists",
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      "text": "LEGACY SOFTWARE AND INFRASTRUCTURE IS THE BIGGEST TECHNOLOGY COST.",
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      "text": "Typical bank spend is 80-90% BAU (business as usual maintenance) and 10-20% innovation.\nThis is a huge disadvantage.\nFinancial Institutions have purpose built systems on '90s architecture. They are unable to share code and data without enormous and risky reengineering efforts since they have to keep the lights on.\nHard to integrate new technologies like NLP, ML, Cloud.\nInternal IT spends are disconnected from the business. Beacon connects them, reduces TCO and accelerates time to market.",
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