Should you modernize or outsource your mainframes? This is a question many financial institutions are grappling with. The challenges posed by mainframes are having a serious impact on enterprise digitization strategies and trends in the financial services industry.
Mission-critical applications in some of the world’s largest banking and financial services (BFS) enterprises still run on mainframe computers. Their sheer computing power and robust security features have made them a trusted technology for BFS enterprises that want to scale their operations and ensure their data remains secure without major process breakdowns. The transactional integrity and pervasive encryption that mainframes offer remains unparalleled, and they easily support millions of daily banking transactions and manage critical workflows. The challenge today is the cost and skill needed to maintain them.
Read the full article in Global Banking and Finance here.
About the authors
Owen Wheatley is Lead Partner for the Banking & Financial Services (BFS) Practice with responsibility for senior client relationships, business growth, go to market strategy and delivery excellence through the management of high-performance advisory teams across multiple regions. He sits on the Executive Committees in both the USA and Europe, has served major banking & financial services clients around the world and continues to be a widely published thought leader in the industry.
Sowmiya Bakthavatchalam is a Senior Lead Analyst with ISG Research.