We have written lots of stories lately about financial services firms buying off-the-shelf software.
This strategy is a move away from more traditional approaches which saw banks and the like write their own system. Off-the-shelf software is seen as a way to cut costs and reduce the time taken for new projects to be developed.
Although a supporter of using software from third party suppliers Ken Harvey, chief technology and services officer at HSBC, does not think it is ready for large global businesses like HSBC. He said in his 20 year experience he has always used software from suppliers whenever he can. But the One HSBC project, which has seen the bank create common computer systems for the entire bank, uses in-house software.
Harvey said there are not suppliers with the scale to provide this type of complex software on a global scale.
Is there anybody out there that can provide this level of complexity on that scale?