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January 30, 2014

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Aydin

Slide 2 shows a map of Europe where Turkey (the fastest growing economy of Europe, where the most important investment opportunities are present) is blanked out!... Why?

Michael Davison, Banking and Financial Markets, IBM

Chris, I'm struck by your analysis, incisive as ever, as it links Cloud, Cyber, Core Banking Transformation and Digital Front Office in a new way. We advocate similar thinking, but wonder where you might see cryptocurrencies fitting in to this picture?

Rob England

It's no wonder they looked at you incredulously. Rebuild a bank's IT every 5 to 10 years. Right.
Retail technology like an iPod has exactly nothing to do with commercial IT infrastructure.
That infrastructure is invariably insanely complex and interlinked, with mission critical external interfaces.
Just one lost transaction can cost a staggering sum.
And you would rip all that out on a reguale basis becuase of security concerns and new consumer toys.
That's the worst advice I have seen in a long time.

Chris Skinner

@Aydin this is clip art of Europe and Turkey is not a European country (yet)

@Rob you advocate commercial infrastructure should be built on COBOL and batch updates then ?

Rob England

Chris, they already are built on COBOL and batch. Would we do it that way in a greenfield bank? probably not so much.

Are banks going to throw away their existing mega-million-dollar investment in data and data systems every 5 to 10 years? Don't be ridiculous.

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