Comments
Getting Control of the Application Portfolio at Your Bank
Newest First  |  Oldest First  |  Threaded View
Byurcan
50%
50%
Byurcan,
User Rank: Author
8/13/2013 | 1:38:48 PM
re: Getting Control of the Application Portfolio at Your Bank
Yes, I do believe the so-called best of breed approach is on the wane, and instead of just building for business needs, as Greg says, banks are moving towards standardization in the technology stack.
Greg MacSweeney
50%
50%
Greg MacSweeney,
User Rank: Author
8/13/2013 | 12:26:50 PM
re: Getting Control of the Application Portfolio at Your Bank
Good points, Charlie. Financial services firms are notoriously bad at forcing standardization in the technology stack. Too often, internal politics and "business needs" get in the way. However, banks are getting better at making these tougher decisions, especially since their technology budgets continue to shrink as the business changes.
cbabcock
50%
50%
cbabcock,
User Rank: Apprentice
8/13/2013 | 1:54:37 AM
re: Getting Control of the Application Portfolio at Your Bank
The only way in the long run to get a handle on this problem is to standardize your environment as much as possible. For years the IT department has been responding to business needs by buying a best of breed application that has special requirements, then customizing it further until IT owns the maintenance and update problems, instead of the vendor. So Windows, Linux, Unix, mainframes and AS/400s all run in the same data center, with different skills needed to keep them going. There is no better way to eat up 75% of the IT budget. Simplify, apply policies that govern all future systems, standardized. Charlie Babcock, InformationWeek


Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology Oct. 14, 2014
Bank Systems & Technology's new Must Reads is a compendium of our best recent coverage of customer analytics. Learn what big data means for banks, meet Wells Fargo CDO Charles Thomas, find out how to connect with your Gen Y customers, and more.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.