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Tuesday, September 15, 2009

Sibos 2009, day two, and already we have had an excellent day.  Again, maintaining customer focus has been at the forefront of discussions - though in some cases it's not always apparent that vendors and banks are talking the same language.  This may seem a little at odds with a forum that talks about standardisation, but clearly the banking community is under immense pressure to cut costs. 

The real evidence of this is an IBM survey where, when questioned, 60% of respondents divulged that they are looking to outsource payments infrastructure and applications.  This figure is up a whopping 100% on the previous year.
 
One vendor I talked to summed it up with the comment "no one wants to pay for payments".  On the other hand, the discussions around securities processing are hotting up, with infrastructure vendors realizing that if they can solve the real time issues surrounding STP on the massive scale that the FX and securities markets demand, then solving payments processing should be a walk in the park, or indeed a short sail in a Chinese junk.
 
Talking of the inimitable slow boat to China, Intel has found out that its "Super Junk" is going to be a very slow boat indeed!  The company’s plan of hosting a floating event in Hong Kong harbor this evening has literally been scuppered - apparently even luxury junks don't fare well in typhoon conditions.  Oh well... perhaps it's all back to the Intel hotel to raid the mini bar or a last minute raid on the FiServ party.

Tudor Morgan

tudor.morgan@greentarget.net