Open source systems, peer-to-peer lending, cloud computing, big data and crypto-currencies are some of the technologies bank fintech funds will consider investing in, as the largest financial firms seek to play technological catch up.

Speaking at a session at the Sibos conference in Boston, six senior executives from global banks engaged with fintech startups said they will be backing companies that can improve their existing technology. The representatives have roughly $600 million to invest in startups.