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This is why challenger banks are a thing, and why the big banks are starting challenger-like new banks. Start anew without the legacy of COBOL, using tech and
by Nursie 5y ago
This is why challenger banks are a thing, and why the big banks are starting challenger-like new banks.
Start anew without the legacy of COBOL, using tech and skills more appropriate to the present era.
Are they repeating the pattern? Maybe, but for now they get to live in the present.
- tluyben2 5y agoExactly: as someone who sells banking backends (in C#/.NET Core with React apps and web frontends), 'old' banks are the main clients. Note though it is not only tech that they want to rejuvenate; they make it a separate part with different people that don't have the adhere to the ancient processes (outside ISO and PCI that is) that slipped into the day to day running on the bank and is costing them money and clients. But as you say, it is also responding more rapidly to demands technically.