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Do you have a source on that new banks do not use mainframes? I'd love to learn what new banks use to talk to older banks.
by bluecmd 7y ago
Do you have a source on that new banks do not use mainframes? I'd love to learn what new banks use to talk to older banks.
- leokennis 7y agoFrom an EU perspective, most interbank communication for SEPA is through XML following PACS or CAMT xsd’s (so there’s a PACS format to transfer money, a CAMT format to inquire on the status of a payment etc.) sent via an intermediary clearing house. Used to be huge XML batches, but now moving to small XML messages. Internationally also “MT” messages are used, which is also a file with specified format. So it doesn’t really matter what stack you run, as long as it can create files and send them out :-)
- bluecmd 7y agoCool! Thanks for sharing! I have heard that some banks interconnect directly with IMS but I have no source for that.
- wikibob 7y agocheck out https://monzo.com/blog/ https://monzo.com/blog/
- abakker 7y agoI can't verify 100%, but I think Orange Bank (subsidiary of the telco provider) is entirely built on the cloud. I believe they built all their systems ground-up 2 years ago, but I could be wrong. When they acquired Groupama Banque, I think they basically started over on the systems.