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John Power

John Power

CEO at Ostia Solutions
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Bio John is delivering sandbox environments to the financial services sector which are totally isolated from real environments and support PSD2, Open Banking in particular and improved product development in general Career History John is the founder, principal design engineer and CEO of Ostia Software Solutions Limited. He has over 30 years experience in the software industry with a focus on large scale business critical systems from IBM zSeries and other Mainframe systems to Linux or Windows.

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An introduction to… Why banking infrastructure is broken

  Interesting post but I don't agree that the banking infrastructure is broken. I would argue that the way we are using and managing infrastructure is problem here. "Legacy systems" are blamed for an inability to innovate and move quickly. This is generally a euphemism for 'old mainframe' technologies that were and are still extensively used today. They have and are still successfully handling countless transactions daily. The problem in my opion is the two speed IT processes that we have. The front office justifiably want to move quickly and are rewarded for doing that. The back office want to keep the lights on and are rewarded for doing that well. They are totally contradictory as the best way to turn the lights off in an organization is to change something so change is done slowly, carefully and responsibly. To that end, changes to the most modern back office infrastructure will also be slow so it has little to do with technology and more to do with process. As an industry, we have been very poor at fully prototyping solutions moving from plan to implementation immediately which leads to a lot of project issues and wasted time making changes to the back office that are not required. So while I would agree there is a problem, I'm not sure it's the infrastructure but the processes that we are using for prototyping, developing and deploying new applications and functionality that is the problem rather than the infrastructure itself.