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> Credit card transactions and banking software run on this model for example TSYS is super expensive and is dying out. The current generation of banking softw

> Credit card transactions and banking software run on this model for example TSYS is super expensive and is dying out. The current generation of banking software is very much shifting to distributed software across commodity data centers.

g947o 7mo ago
Source? Interested in learning more about this
- esseph 7mo ago
  Red Hat OpenShift (IBM) is what a lot of banks have settled on. Red Hat went all in maybe 5+ years ago in capturing those institutions.
  - Bigpet 7mo ago
    Is that in addition to mainframes or for completely replacing them?
    - zhengyi13 7mo ago
      Probably both, to respond to the risk tolerances of any given org.
    - esseph 7mo ago
      Both Some stayed at on prem, some pushed code to mainframe VMs in the cloud, some went to OpenShift (mostly on prem from what Ive seen, probably 80-85%).
  - VorpalWay 7mo ago
    Ah, that explains why IBM bought RedHat. Or at least one reason for doing so.
    - esseph 7mo ago
      I'd imagine close to 95% in the US, if they're running important workloads on prem on Linux, it's on RHEL. A staggering number of VMs and bare metal.
      - esseph 7mo ago
        (Clarification: I'm not saying 95% of all US company Linux workloads are RHEL, not even close. I'm saying a huge percentage of high criticality (risk of loss of life / high financial risk) are, simply because of support and the name.)
        nineteen999 7mo ago
        Exactly. The exact opposite of the people flogging internet widgets running on a bunch of AWS instances running Arch/Ubuntu/Cheap distro of the week. Unfortunately that contingent is massively over-represented here on HN.
    - deleted 7mo ago
      [deleted]
- bitwize 7mo ago
  I work in banking. We provide modern solutions for small local banks in the US. That's how our core runs. It's just Java apps (Spring Boot, Jakarta EE) running in the cloud.
- piyh 7mo ago
  https://nazymaltbridge.substack.com/i/186393578/technology-infrastructure-provides-structural-advantages-competitors-cannot-easily-replicate https://nazymaltbridge.substack.com/i/186393578/technology-i...
  - throwawaypath 7mo ago
    That post fails to mention Capital One's move from IBM mainframes to AWS was one of the reasons they suffered one of the largest data breaches in history.
    - throwaway27448 7mo ago
      And what was the financial cost of this?
      - throwawaypath 7mo ago
        At least $270,000,000 in direct costs [0]. [0] https://www.security.org/identity-theft/breach/capital-one/ https://www.security.org/identity-theft/breach/capital-one/
throwawaypath 7mo ago
Current generation of banking software is expanding on the mainframe: IBM Z mainframes play a pivotal role in facilitating 87% of global credit card transactions, nearly $8 trillion in annual payments, and 29 billion ATM transactions each year, amounting to nearly $5 billion per day. Rosamilia highlighted the continuous growth in demand for capacity over the past decade, which has seen inventory expand by 3.5 times. https://thesiliconreview.com/2024/04/ibm-new-mainframe-web-transactions https://thesiliconreview.com/2024/04/ibm-new-mainframe-web-t...
- throwaway27448 7mo ago
  That's true, but the proportion is shrinking.

g947o 7mo ago

Source? Interested in learning more about this

esseph 7mo ago
Red Hat OpenShift (IBM) is what a lot of banks have settled on. Red Hat went all in maybe 5+ years ago in capturing those institutions.
- Bigpet 7mo ago
  Is that in addition to mainframes or for completely replacing them?
  - zhengyi13 7mo ago
    Probably both, to respond to the risk tolerances of any given org.
  - esseph 7mo ago
    Both Some stayed at on prem, some pushed code to mainframe VMs in the cloud, some went to OpenShift (mostly on prem from what Ive seen, probably 80-85%).
- VorpalWay 7mo ago
  Ah, that explains why IBM bought RedHat. Or at least one reason for doing so.
  - esseph 7mo ago
    I'd imagine close to 95% in the US, if they're running important workloads on prem on Linux, it's on RHEL. A staggering number of VMs and bare metal.
    - esseph 7mo ago
      (Clarification: I'm not saying 95% of all US company Linux workloads are RHEL, not even close. I'm saying a huge percentage of high criticality (risk of loss of life / high financial risk) are, simply because of support and the name.)
      - nineteen999 7mo ago
        Exactly. The exact opposite of the people flogging internet widgets running on a bunch of AWS instances running Arch/Ubuntu/Cheap distro of the week. Unfortunately that contingent is massively over-represented here on HN.
  - deleted 7mo ago
    [deleted]
bitwize 7mo ago
I work in banking. We provide modern solutions for small local banks in the US. That's how our core runs. It's just Java apps (Spring Boot, Jakarta EE) running in the cloud.
piyh 7mo ago
https://nazymaltbridge.substack.com/i/186393578/technology-infrastructure-provides-structural-advantages-competitors-cannot-easily-replicate https://nazymaltbridge.substack.com/i/186393578/technology-i...
- throwawaypath 7mo ago
  That post fails to mention Capital One's move from IBM mainframes to AWS was one of the reasons they suffered one of the largest data breaches in history.
  - throwaway27448 7mo ago
    And what was the financial cost of this?
    - throwawaypath 7mo ago
      At least $270,000,000 in direct costs [0]. [0] https://www.security.org/identity-theft/breach/capital-one/ https://www.security.org/identity-theft/breach/capital-one/

throwawaypath 7mo ago

Current generation of banking software is expanding on the mainframe: IBM Z mainframes play a pivotal role in facilitating 87% of global credit card transactions, nearly $8 trillion in annual payments, and 29 billion ATM transactions each year, amounting to nearly $5 billion per day. Rosamilia highlighted the continuous growth in demand for capacity over the past decade, which has seen inventory expand by 3.5 times. https://thesiliconreview.com/2024/04/ibm-new-mainframe-web-transactions https://thesiliconreview.com/2024/04/ibm-new-mainframe-web-t...

throwaway27448 7mo ago
That's true, but the proportion is shrinking.