My interests of technology, people and processes have converged in a web seminar on online financial services on 14 March.

Financial service providers have been wrestling for years with the management of large scale IT projects across their whole organisation which will bring the cost reductions and company benefits that the software providers and consultants have promised. In some cases, banks have scrapped projects and written off hundreds of millions of dollars.

Add to that problem the difficulty of managing the IT aspects of regular changes to the law, consumers who are worried about security and new competitors who have taken a fresh look at the industry and come up with low-cost solutions and you have an industry that is going through a lot of competition and change.

Is there a theory of singularity that can provide a solution?