It varies around the world, depending on market dynamics and the age of the systems.β Asia to some extent is leapfrogging in some technology because it is building more modern banks with fintechs. Of the survey respondents, 63% plan to move workloads to a public cloud, 31% are aiming for a hybrid cloud environment and just 6% planned on using a private cloud. Public cloud appears to have won over bankers, many of whom were skeptical about going to a public cloud even though it typically provides the most cost-effective approach. The survey found that mainframes are a mix of ages - 58% of those surveyed said their mainframes are 5 to 10 years old, 27% said 11-20 years old and 9% reported legacy equipment that was 21-30 years old. You can put in a new core in parallel and slowly retire the old core.β As cores get hollowed out you have the ability to replace them. Now banks can keep the core accounting and pull the spaghetti code apart and bring new features through microservices and APIs, leaving the accounting in the core systems of record and launching product innovation through modern architecture that lets you scale quickly. βThe challenge is when you want to put feature functionality around the account.
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