Information Age: Legacy systems – the next financial crisis?

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If banks don’t modernise, dependence on legacy mainframe systems could cause the next global financial crisis.

Following almost a decade of economic uncertainty and market turmoil, the world’s largest financial organisations have come under scrutiny both from their watchdogs and themselves. The financial crisis portrayed a hidden darkness within global banking networks that has led to bonus cutbacks and regulatory reforms, but over the next ten years another dormant challenge is set to engulf financial organisations worldwide – their dependence on mainframe computing.

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