Downturn could help IT get banks off legacy

Flinders, Karl
July 2008
Computer Weekly;7/22/2008, p7
Trade Publication
The article focuses on the factors that are keeping the British banks away from replacing legacy systems. Don Free, research director at analyst firm Gartner, states that the complexity of replacing hundreds of applications developed, acquired and integrated over a long period makes it difficult for the banks to replace them. Ian Benn, managing director of payment services at banking systems provider Fidelity Information Services mentions that it is difficult for the information technology department to sell legacy system replacement to the business and opines that the replacement of system is costly, takes several years to install and offers similar services as the legacy system. It also stresses that slowdown in business has also forced banks to cut costs.


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