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Why open source software makes sense in financial services

Submitted by Roy Schestowitz on Tuesday 17th of March 2015 08:28:42 PM Filed under
OSS

Unfortunately few organizations have anticipated the influence of mobile and digital consumerization. Combined these two trends have forced many businesses, including banks and financial services companies, to rethink how they engage customers. The impact to IT is two-fold: (1) the CIO and IT are no longer the sole custodians of what systems and software, including mobile apps, the business can use; and (2) IT must is now mandated to roll-out applications faster-to-market to stay relevant to the Lines of Business. Another stark reality is that IT budgets aren’t growing proportionately to these developments. Hence, IT has to do more with what it has.

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