“Most banks are absolute horror shows when it comes to having systems that are outdated, and even people who are still working with spreadsheets,” according to Mayra Rodriguez Valladares, managing principal at capital markets consultancy MRV Associates. “But when you ask them where they want to be, everyone says Goldman. They are the premier institution when you think of good [technological] systems; they were willing to plow tons of money into building their systems in-house, and not outsourcing as much.