Well my brother worked in BNY Mellon India center. They have thousands of people and work core banking processing. BofA have their own India development center with thousands of employees. And this is outside of 10s of thousands outsourced to Tata, Infy etc.
You think core banking process like transfers/ trading is some kinda crown jewel. It may be in terms of messaging but most of core IT part is just a cost center.
Customer data and all need to be in their own secure data centers for legal reasons but all the processes can be designed, developed and executed from anywhere at lower cost.
You think core banking process like transfers/ trading is some kinda crown jewel. It may be in terms of messaging but most of core IT part is just a cost center.
Customer data and all need to be in their own secure data centers for legal reasons but all the processes can be designed, developed and executed from anywhere at lower cost.