Big banks need IT reform almost as badly as regulatory change

Re:Big banks need IT reform almost as badly as regulatory ch... by aristidb on Friday July 23, 2010 @11:03AM (#1541339)

I was... "fascinated" by this quote: "That is good news for start-ups such as Metro Bank, which wants to open more than 200 branches in Britain by 2020. With such grand designs, isn’t Vernon Hill, one of the bank’s founders, tempted to build an IT system of his own? “I hate programmers,” replies this dyed-in-the-wool entrepreneur. “They only cause trouble.”"

[ Parent | on HN ]

Re:Big banks need IT reform almost as badly as regulatory ch... by igrekel on Friday July 23, 2010 @01:46PM (#1541867)

I am not surprised.

The relation between IT departments and the rest of the company are often weird, it even more complicated when the IT department has two jobs rolled into one : administrating the system and developing them. And they work by ticket for all these activities.

They have been told to run IT like a business on its own so everything is done by contract. But IT never can make a profit, and reinvest in cost saving or modernization measures. Purchasing off the shelf software eases and clarifies a lot of all that. Just having you IT services provided by an external company often does not.

[ Parent | on HN ]

Re:Big banks need IT reform almost as badly as regulatory ch... by Empedocles99 on Friday July 23, 2010 @12:18PM (#1541593)

It's a good thing that bank doesn't use any software.

[ Parent | on HN ]

Re:Big banks need IT reform almost as badly as regulatory ch... by eru on Monday July 26, 2010 @09:04AM (#1547878)

You have to go with the lesser evil.

[ Parent | on HN ]

Re:Big banks need IT reform almost as badly as regulatory ch... by mclin on Friday July 23, 2010 @01:45PM (#1541866)

Is he wrong? /programmer

[ Parent | on HN ]