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"His first discovery was that nearly all banks rely on a few big, and not terribly agile, outside vendors to provide all the software that makes bank computer s
by waterlesscloud 12y ago
"His first discovery was that nearly all banks rely on a few big, and not terribly agile, outside vendors to provide all the software that makes bank computer systems work."
I worked in this industry for about 6 years in the 90s, and there were a few small companies moving all the data center functions over to pc software from mainframes, but most (all?) of them got bought up by the big players. I got out of it when the medium-ish company I worked for got bought up and I got laid off. I heard some of the people I worked with split off and started new tiny companies.
Circle Of Life, I guess.
- mousa 12y agoFrom what I've in the finance industry, there aren't enough standards. It seems like every bank/broker/data provider stores and sends data in its own format and has different procedures for clearing. It's like the priority is to make sure people can't switch easily.