Over the last half a century COBOL has proven its reliability and stability for such core transactional and business systems.
Now with tools from Micro Focus, COBOL is able to embrace, and integrate fully with modern frameworks such as . This allows organizations to ‘do more with less’ and harness their solid investments in legacy systems while also moving forward into current and evolving architectures,” Mathieson concluded.
Since acquiring FNS in 2005, Tata Consultancy Services has continued to enhance the BANCS solution, in 2011 TCS was placed in the leader quadrant of Gartner’s International Core Banking Report 2011 for BANCS.
From 27 January to 21 February 2003, a multi-disciplinary team worked to demonstrate the scalability and performance of BANCS within a Windows server environment.
For banks and other financial organizations, a reliable and robust IT infrastructure is vital as customers rely on accurate, constant access to monetary resources.
If a bank’s IT systems fail, even for a short time, it receives a lot of high-profile press coverage and inconveniences thousands of people.
For example, if you combine the transactions of the major banks in Australia, a country of 19 million people–even in the most busy trading times, you would probably not see a load as high as 811 tps,” said Mathieson.
“In the banking industry it’s vitally important that mission-critical systems are robust and highly available.
Although many financial organizations moved to a Microsoft platform for their front-end staff workstations and customer-facing systems, Microsoft was traditionally overlooked for back office processing.
The less mature financial markets of Asia, Africa, Latin America, Eastern Europe, and the Middle East have found the architecture and cost of ownership to be a major driver in changing their core back office systems.