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Banks used to store peoples gold, now they store data. I don't think any serious bank will consider trusting outsider with their core business. And mainframes
by unionpivo 7y ago
Banks used to store peoples gold, now they store data.
I don't think any serious bank will consider trusting outsider with their core business.
And mainframes are essentially early on premises clouds.
And today's, cloud offerings still don't do what mainframes did as easily.
(and there are several things that cloud does offer that mainframes can't do)
- Merrill 7y agoOutsourcing of financial services processing has been a big business for decades. However it is usually provided to small/medium banks or credit unions by specialized firms or by big banks. A big bank will usually do its own ledger processing. A good configuration is to process in two pairs of data centers more than 200 miles apart in different electric utility interconnection regions, e.g. Arlington/Fort Worth and Dayton/Springfield. Archival storage of transactions may involve additional centers. https://en.wikipedia.org/wiki/IBM_Parallel_Sysplex#Geographically_Dispersed_Parallel_Sysplex https://en.wikipedia.org/wiki/IBM_Parallel_Sysplex#Geographi...