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Many banks’ core banking systems are getting long in the tooth. Developed in the 1970s and 1980s using traditional mainframe technology, COBOL, assembly and other “write only” languages, many banks have remained with these systems. By Celent
FST sits down with Darren McKenzie, CTO of Alliance & Leicester, to discuss his IT challenges for the next 12 months – a period which he envisages as “a year of transition” for the UK high street bank.
2006 has been a good year for business process management (BPM) with more and more companies coming to the conclusion that its deployment can benefit their company in a number of ways. According to one leading consulting group, BPM in the financial services industry alone is expected to exceed UK£8 billion by 2008. By Frances Davies