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I don't know where people get this idea that large banks still run everything on technology hardware that they own - it's just not true in general. As an exampl
by mhw 15y ago
I don't know where people get this idea that large banks still run everything on technology hardware that they own - it's just not true in general. As an example, there are organisations like TSYS and First Data out there to which a number of banks outsource some or all of their transaction processing operations, from issuing credit and debit cards through card transaction processing to sending statements out in the post. See http://www.tsys.com/solutions_services/Issuers/index.cfm http://www.tsys.com/solutions_services/Issuers/index.cfm and http://www.firstdata.com/en_us/products/financial-institutions.html http://www.firstdata.com/en_us/products/financial-institutio... to get an idea of what a bank can outsource if it wants to. So what's remarkable about outsourcing email/calendar/etc to Google's cloud when competitors have already outsourced their credit card operation to a cloud run by TSYS?
- AlexBlom 15y agoAt least in the banks I deal with, there is a huge difference between what is considered core, and peripheral services that 1) rarely hold sensitive data, if any; 2) never hold the master and 3) are not part of the day to day banking experience (i.e. sending cheque books, delivering credit cards). The psychological barrier I see is 'running the transaction' vs. 'reporting on it weeks after the fact'.