It would be helpful to use the full term Informatation Technology to understand these trends. Financial institutions and many other administrative orgs have al

It would be helpful to use the full term Informatation Technology to understand these trends. Financial institutions and many other administrative orgs have always been about storing, distributing and processing information. They did this at scale even before the advent of computers. And they were also early adopters of computers. Their core business is providing service by using IT, whether that technology is computers, paper or human brains. Back in the long ago we didn't call them IT companies, because that designated a supplier of IT equipment (and we used to think of software as equipment). But now in the age of SaaS, we think of IT companies providing services using IT, just as the banks et. al. have always done. It's the same kind of business, evolved through two different paths, each with strengths and weaknesses. It seems inevitable that the two paths will merge.