Banking without Legacy
Writing this - I just returned from the Middle East. We are working on defining the securities processing landscape of a major investment bank in the region. This process and IT landscape is supposed to be a major enabler for growth. How does this impact the competitive landscape? Is such an investment strategic?
Banking in the Middle East is growing like nothing (well, all those petrodollars need to go somewhere 
). There are also strong regulatory drivers transforming the landscape. And the clear will of the governments is to diversify their economies away from oil, among others into Financial Services.
These financial institutions will not have to fight legacy applications. Launching new products will be quicker, as it does not require changes in code dating back to 1974 (as in a European bank I once worked for), and a proper segmentation of the landscape will contain change to a minimum.
But system landscape is only a small part of the new enterprise architecture. Enterprise architecture is about the way an entity organizes and reconfigures its resources to achieve its objectives. It includes value chains and support processes - Because a new product not only requires a trading platform – but also needs people trained to handle them, and marketing to let the world know about it.
Integrating all this provides strategic capabilities to the bank – underpinning the organization’s value proposition. This will give the banks of the region - and in a similar way those of many emerging economies - a competitive edge against established institutions.
). There are also strong regulatory drivers transforming the landscape. And the clear will of the governments is to diversify their economies away from oil, among others into Financial Services.These financial institutions will not have to fight legacy applications. Launching new products will be quicker, as it does not require changes in code dating back to 1974 (as in a European bank I once worked for), and a proper segmentation of the landscape will contain change to a minimum.
But system landscape is only a small part of the new enterprise architecture. Enterprise architecture is about the way an entity organizes and reconfigures its resources to achieve its objectives. It includes value chains and support processes - Because a new product not only requires a trading platform – but also needs people trained to handle them, and marketing to let the world know about it.
Integrating all this provides strategic capabilities to the bank – underpinning the organization’s value proposition. This will give the banks of the region - and in a similar way those of many emerging economies - a competitive edge against established institutions.
Comments
That kind of landscape can enable the information to the investors very fastly.
In that view they took their advantage.
Posted by: Suresh | June 16, 2008 08:57 PM