Technology Costs are Much Lower, but Bank IT Costs Keep Rising

Technology costs continue their downward spiral, and with an equally dramatic increase in capacity. But while the rest of the business world pays less and less for much more technology, the banking industry continues to pay much more for less. But Why? Because their Corebanking systems have been installed now for 2 to 3 decades. In effect, most of the world's banks are still paying the costs of 1980s and 1990s technologies, while their software providers keep milking the cash cow at their expense. Older Corebanking systems are now killing bank margins, which have also had a negative impact on their respective economies.

Over the past two decades banks and application vendors alike have focused their technology investments on enhancing the user experience, enabling new distribution channels and catering to the boom in social media. Too little attention has been paid to the Corebanking Systems that actually run a bank’s daily operations. Not surprisingly, Financial Services now lags far behind other industries in virtually every measure of Operational Excellence. I created SlaterLabs to develop and commercially distribute a new breed of Corebanking software - a system capable of performing tasks in a single application environment that competitor systems require dozens of applications to fulfill, and then processing them for less than one-tenth of the cost. This new breed of banking technology we called Etude, and it is a major enhancement over any system in the global marketplace. Among its many innovations, Etude automates thousands of business processes, and the system displaces real time analytical information out of the data warehouse and directly into the hands of management. But most importantly, Etude reduces the Total Cost of Technology Ownership by more than 50%. If you feel your bank is paying too much for too little, let SlaterLabs show you how to gain a step improvement in Operational Excellence, and ensure a dramatic reduction in your technology budgets. I look forward to hearing from you soon. Take a few minutes to browse our website and then Contact Us at your convenience. You'll be glad you did. John Slater President