The concept of open banking is often described as the free exchange of data with consumer consent, of course. The goal is to anticipate individual consumer needs by feeding AI and machine learning programs with buckets of data. Then, team up with third parties to offer a highly personalized banking experience with more relevant products … Continued
Traditional banks are truly at a crossroad. It is a divergence carved out by increasing competition and changing consumer attitude. On one side, there’s the familiar way that things have always been done. On the opposite path, runs the dark and foggy road of uncertain banking territory, ripe with hybrid cloud, API interfaces, and concepts … Continued
Last year, the finance industry buzzed with the endless possibilities of fintech and traditional banking partnerships. It was believed that traditional banks might benefit from the speed, agility, and focus of startups. Plus, they could keep a close eye on disruptive innovation. Fintechs would grow rapidly from the resources, scale, and brand credibility that banking … Continued
As a bank executive, you know your company has access to all kinds of data, and your job is to find the most valuable ways to use it. Data is an opportunity to understand your customers better and get an idea of their needs. According to Srini Nallasivan, chief analytics officer at U.S. Bank, this … Continued
The open banking movement has been spreading across the world, with forecasts showing it’s gradually expanding to the United States. Open banking puts consumers in control of their financial data, allowing them to decide how they want to share their information. But companies in the financial industry can also see numerous benefits from it as … Continued
Over 30 million Americans have already filed for unemployment due to the COVID-19 pandemic and legacy government systems are struggling to keep up with the staggering increase in demand. These mainframe systems rely on the programming language COBOL, and programmers with a background in the language are being called on to ease the burden. However, … Continued
A Record Fast Turn-Around A Swiss financial services company, wealth manager, and global investment bank with business divisions in over 50 countries needed a way to quickly and securely connect their mainframe applications to a third-party database with very low latency in order to fulfill KYC due diligence in real time. CHALLENGE Due to its … Continued
In times of economic uncertainty, many companies have to reassess and pivot from their usual routine. COVID-19 has caused the world’s economy to halt to a standstill. Though our new normal consists of uncertainty, coupled with some fear and trepidation, hope and unity are also driving our communities. Companies who use this downturn to drive … Continued
Over the last couple of months, nearly everyone’s plans have changed. Travel plans are cancelled, kids are learning virtually from home, and the nation is urged to socially distance themselves from anyone not in their immediate household. No one could have predicted that a global pandemic would affect the world economy to the extent that … Continued
Most leaders understand the value of inclusiveness and driving innovation through collaboration, but this is rarely achieved across an entire organization. A pervasive problem that kills innovation at big companies resides in deep functional silos that limit interaction across divisions. A culture of silos inadvertently discourages mid-level and senior executives from strategizing across departments. That’s … Continued
Our recent mainframe modernization survey provided observations about current or recent mainframe users. We surveyed over 160 individuals in various job functions and organizations. By far, the most interesting survey find was low awareness with open banking and related topics among fintech and insurers. For example, 87% of respondents in the banking and finance space … Continued
In times of economic uncertainty, companies must continue to invest in their future. While it’s important to acknowledge that an economic downturn can have lasting reverberations for many, organizations must also be able to adapt to negative situations and create positive outcomes. The most successful companies use these difficult times to invest for the inevitable … Continued
Our 2020 Mainframe Modernization Survey revealed various behaviors and opinions of over 160 mainframe users from all over the globe. The respondent’s answers helped provide a snapshot of the current trends and attitudes in the community. One of the most heavily debated topics for mainframe users is whether or not to migrate off the mainframe, … Continued
In our 2020 Mainframe Modernization Survey, we received responses from mainframe users all over the globe. Respondents had varying levels of seniority, job functions and came from a wide variety of industries in both the public and private sectors. However, many of them shared one thing in common and that’s the motivation behind their modernization … Continued
When thinking of large players in the technology field, some names immediately come to mind. Steve Jobs. Mark Zuckerberg. Jeff Bezos. But the career trajectories of some of the most innovative minds in the industry would not have been possible if not for the invention of mainframe computers. Mainframes are large computers primarily used for … Continued
Every December, we look back on the past year and marvel at the events that have taken place. You may have started the year single and are now engaged, or may now be the proud parent to a new baby or fur baby. A lot can change in just 12 short months. But one thing … Continued
Mainframes have been around for over 50 years. Billions of lines of code have been written to support business applications that reside on the mainframe. Today’s organizations rely on these legacy systems and the decades of business knowledge build into the applications that drive their businesses. However, an application built over 20 years ago will … Continued
Mainframe applications built decades ago had no concept of online transactions triggered by a REST or SOAP API request. The focus was on a computerized workflow via an interactive dialog, with an end user sitting at a dumb terminal that supported specific business processes (e.g., create a new customer account or pay an insurance claim). … Continued
Happy 60th birthday, COBOL! COBOL or common business-oriented language was officially given its name on September 18th, 1959. COBOL is an English-like computer programming language widely used by companies and government entities around the globe. COBOL is extremely important to companies who rely heavily on the mainframe since legacy applications deployed on mainframes use COBOL … Continued
1. Denial: We need digital transformation and can build it ourselves. The company begins manual coding of APIs to connect the mainframe to modern applications, but progress is slow. 2. Anger: A hypothesis that mainframe is an obstacle to innovation followed by a Board level edict that the mainframe must be replaced. The company begins … Continued
The API Economy is booming, and with such huge historic investments in mainframes it is vital for companies to find ways to bring these assets into the API world. The Lustratus report “Best of Breed API Middleware for Mainframes” examined the challenge of API-enabling mainframes and developed a checklist of key functions for buyers to … Continued
GT Software has spent the last three decades working with IBM mainframe customers to help them get the best out of their assets. As a mainframe-based company it offers a range of mainframe-specific products and packages, but the key one in terms of the scope of this paper is Ivory Service Architect, more commonly referred … Continued
After several years of relentless hardware and software innovation, the mainframe is at an inflection point from being a supporting platform of transaction revenue, to becoming a source of revenue growth and innovation. Organizations are evolving toward what IDC calls the “connected mainframe” in a study they published entitled, “The Business Value of the Connected … Continued