Of course, critical application development continues to reside in-house, though many banks are handing over the care and maintenance of legacy applications to their outsourcer. Historically, it has been the small banks and financial institutions...
It is clear that some form of re-engineering is essential to move towards straight-through processing and streamline business processes. Almost seven in ten (68 per cent) retail banks and insurers will boost their infrastructure spend, with over a...
IBM said the package is based on non-proprietary standards and is built on its WebSphere Business Integration, WebSphere Application Server, DB2 Information Integrator, Tivoli Access Manager and WebSphere Portal Server products.
It sells its services to banks and online retail companies. The main problem with legacy systems, roughly stated, is that on the one hand they are difficult and expensive to maintain while on the other they are very valuable and even more expensive...
The analyst warns the directive will cost investment banks up to £22m - with half of that spend going on technologies including workflow; business processes outsourcing; connectivity; service-oriented architectures; and data warehousing.
The analyst said: "Nevertheless, many banks in the region must now either contemplate investing in legacy payment system consolidation or choose third-party offerings. A more harmonised banking sector across Europe will mean that domestic banks...