Earlier quoted context omitted.
I am going to hazard a guess: you have not been exposed to some of the nuttier regulations within this space. The regulatory demands in financial technology, and especially in those industries where both the regulators as well as majority of the players may not be technically literate, are effectively the anti-thesis of robust and reliable engineering. When the industry regulations demand that for every potentially d…
> There are research papers from 1950's that explicitly endorse [rapid] iterative bottom-up approach as the only sensible way forward. Interested in this... any links?
The most valuable sources have been just 5 (yes, five) research papers / reports. Luckily they sport citations, but sadly I haven't poured over more than a fraction of them so far.