Season 14 Episode 5

Mark Beringer on digital transformation and hidden banking risks

20 February 2026 · 13:08 min

On Business Talk, Michael Avery speaks to Mark Beringer, Head of Tech at Monocle Solutions, about the uncomfortable truth behind digital transformation in banking. Despite billions spent on cloud, AI, and core system upgrades, spreadsheets remain deeply embedded in financial institutions. Rather… than being the problem, Beringer argues that Excel often fills the gap between rigid enterprise systems and fast-moving business demands — but it also introduces governance, audit, and operational risks when left unmanaged.

The conversation explores why large-scale “rip and replace” projects often fail, why cloud alone doesn’t solve legacy complexity, and how hidden manual workarounds create institutional fragility. True modernization, Beringer explains, is less about dramatic transformation and more about disciplined, incremental engineering — simplifying architecture, strengthening data foundations, and rebuilding trust in systems so businesses can move beyond spreadsheet dependence. Show more