The Sky Might Be Falling, But IT Companies Are Protected
Three conditions affecting the banking business seem quite real and have already become visible in the form of poor earnings reports from the giants - losses in investment banking, the credit crunch and subprime mortgages. So it's natural to look to the left and right for other industries that might be affected. Of course, IT is a likely candidate for losses because as bank profitability goes, so goes IT investment. Maybe.
Banks Increasingly Deploying Green Technologies in Data Centers
As energy consumption and costs continue to mushroom, banks increasingly are tapping new technologies -- such as IT asset management, virtualization and cooling solutions -- to improve the efficiency (and environmental friendliness) of their data centers.
There's A Big Void In the Bank Tech Community, And It's In The Sales Department
The problem is that most vendor sales organizations are still selling "left over" products, and that game ended about three years ago. The game now is to sell capabilities that will improve the performance of their customers - commercial banks, credit unions, thrifts and mortgage companies. If you don't know what I mean, let me use two examples to explain - Accenture and IBM Global Services.
2008 Persons of the Year - Bank Tech Sales Reps
With all due respect to the Cs in every bank tech company, show me a salesman who brings in the business, and I'll show you the person who is going to propel our industry into one very sweet higher level. I have met only 9 tech sales reps in 35 years who left a lasting impression on me, so don't expect a smashing 2008 unless the new breed of salesman is going to hit the streets soon.
Pulling the Plug On Banking In Second Life
A little while back, I blogged about the financial services community in the virtual world of Second Life, the brainchild of Linden Lab. These banks and brokers deal in Linden Dollars, which is the money of Second Life. According to wikipedia, although the exchange rate between real dollars and Lindens does fluctuate, there are approximately 270 Lindens to one U.S. dollar.
Add Intelligence to Data to Create Competitive Advantage
In the age of Web 2.0, banks are going to experience competition from non-traditional firms. In order to effectively compete against this new rival, they will need to continue to add value to their online offering. Adding intelligence to data through advanced reporting tools is one such way of doing this.