05 December 2016
Visit aciworldwide.com

Barclays banks on cloud and Linux to slash development costs

10 January 2013  |  17595 views  |  1 Barclays branch sign

Barclays Bank plans to slash software development costs by 90% by building a private cloud infrastructure and moving more applications to machines running the Linux open source operating system.

The plans, which the bank believes will save it billions of pounds in development costs and speed time to market for new applications, were outlined in an unsourced report in the Sunday Times.

The use of cloud technology and Linux has already been applied internally and in a limited number of consumer-facing applications in the retail bank, yielding positive results.

The Sunday Times cites the progress of the Pingit mobile money app as a prime example of the new way of thinking at Barclays, which is being pioneered by COO Shaygan Kheradpir.

The bank boasts that the development time for Pingit was reduced from two years under traditional methods to just seven months, as small development teams collaborated to share and re-use components created in the cloud. Since its launch, the bank has been able to update Pingit on the fly, adding new functionality and service upgrades up to twelve times faster than previously, which would typically have required multiple patches and re-writes.

In an interview with Computing last year, Kheradpir outlined a vision for software development at the bank in which end users and developers freely mingle, sharing ideas and feedback. He said he wanted to increase staff mobility and flexibility by enabling tablet use in the office, with a Barclays app cloud providing everything staff need to work and communicate.

In November, Barclays made a bulk order for 1800 iPads - the largest of its kind by a UK financial institution - for distribution to staff in the branch network.
KeywordsCLOUDLINUX

Comments: (1)

A Finextra member
A Finextra member | 10 January, 2013, 11:28

This is quite linked to this blog about PaaS: 

http://www.finextra.com/community/fullblog.aspx?blogid=5990

 

 

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Barclays makes bulk iPad order for branch sales

Barclays makes bulk iPad order for branch sales

23 November 2012  |  10242 views  |  0 comments | 17 tweets | 2 linkedin
Banks announce support for SAP corporate cloud messaging network

Banks announce support for SAP corporate cloud messaging network

29 October 2012  |  14279 views  |  0 comments | 11 tweets | 8 linkedin
Mobile banking, cloud computing and IT investment cash top wish list for bank CIOs

Mobile banking, cloud computing and IT investment cash top wish list for bank CIOs

10 October 2012  |  14009 views  |  0 comments | 1 tweets
Nasdaq OMX partners Amazon on cloud platform for financial services firms

Nasdaq OMX partners Amazon on cloud platform for financial services firms

25 September 2012  |  6550 views  |  0 comments
Barclays extends Pingit to Kenya

Barclays extends Pingit to Kenya

20 August 2012  |  9309 views  |  0 comments
Barclays takes Pingit to the next level

Barclays takes Pingit to the next level

16 May 2012  |  12947 views  |  0 comments | 1 tweets
NAB working to set cloud security standards

NAB working to set cloud security standards

02 March 2012  |  9810 views  |  0 comments
Barclays launches mobile number-based P2P payments service

Barclays launches mobile number-based P2P payments service

16 February 2012  |  17552 views  |  3 comments
BBVA banks on Google cloud

BBVA banks on Google cloud

11 January 2012  |  11501 views  |  0 comments
Deutsche Bank scoops best practice cloud technology award

Deutsche Bank scoops best practice cloud technology award

05 December 2011  |  10602 views  |  0 comments
State Street implements private cloud

State Street implements private cloud

06 June 2011  |  8719 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit aciworldwide.comFind out moreVisit VocaLink.com

Who is commenting?

A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...

Top topics

Most viewed Most shared
Royal Mint to issue digital goldRoyal Mint to issue digital gold
6850 views comments | 23 tweets | 24 linkedin
Bank CEOs fret about ROI as startups drive IT arms raceBank CEOs fret about ROI as startups drive...
5968 views comments | 16 tweets | 21 linkedin
hands typing furiouslyBanking UX Design Challenges and Opportuni...
5818 views 0 | 12 tweets | 4 linkedin
Amazon signs up tech firms to financial services cloud programmeAmazon signs up tech firms to financial se...
5798 views comments | 14 tweets | 15 linkedin
R3 and Calypso to develop blockchain trade confirmation systemR3 and Calypso to develop blockchain trade...
5705 views comments | 13 tweets | 12 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job