Tag Archives: Basel III
Achieving IT Efficiency Through Consolidation And Legacy Application Retirement In Banking And Capital Markets
One of the top challenges among financial firms of all sizes is how to efficiently manage information within their organization in the face of explosive data growth. More and more data needs to be retained for a longer period to meet regulatory compliance. At the same time, they need to meet customer SLAs. The wave of mergers and acquisitions in the financial services industry leads to IT consolidations effort that leaves many legacy applications behind. The cost savings from IT consolidations would only be realized by retiring those legacy applications to eliminate the associated operational and maintenance costs. These legacy applications are kept around because the data needs to be retained for compliance.