For the IT Biz, Financial Firms Demand Most

Wells, Stuart
October 2004
Bank Technology News;Oct2004, Vol. 17 Issue 10, p56
Trade Publication
The article explores the IT requirements of the financial service industry. An essential component of financial systems business continuity is drawing heavily on the latest developments in storage technology, systems design and business software. As a discrete market opportunity, continuity represents a $4 billion level of spending globally by financial services companies. Wall Street was an early buyer of Linux and continues to invest heavily in open-source software. In addition to the open-source software, financial services firms are beginning to deploy open-source databases. The data centers of banks and major insurance companies today contain a mix of technologies depending on the particular computing requirements.


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