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The first digital computers were used by banks within years of each other - 1955 for BoA in the USA, 1958 for BNP in France and 1959 for Barclays in the UK. And
by spiralx 6y ago
The first digital computers were used by banks within years of each other - 1955 for BoA in the USA, 1958 for BNP in France and 1959 for Barclays in the UK. And those machines merely took over from existing calculating systems that had been in place for a good couple of decades.
US banks suck for a lot of reasons but part of it is that culturally and regulatorily the entire financial/banking/commercial environment in the US is very conservative. And there's not much in the way of pressure to make changes either - whether internally from competition and regulation or externally from the need to interact with other countries. Like broadband, consumer banking is basically an oligopoly that will quite happily plod along providing the same service as long as it can.