Getting Control of the Application Portfolio at Your Bank
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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
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.
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

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