Why do Banks and Financial Institutions still use Mainframes?
The rise of startups, the emergence of new technologies like big data, and faster networks. All of these are making most of us believe that distributed computing is here to replace the age old centralized computing. In other words, with the emergence of cloud and mobile computing, mainframes should soon become an obsolete technology. Well interestingly enough, mainframes don’t seem to be going out of the picture anytime soon. Ever since the launch of IBM’s first mainframe range in 1964, System/360, mainframes have never seen a dull day in business. Mainframes occupy a coveted place in various fields like banking, healthcare, finance, insurance, government, and a plethora of other public and private enterprises. Mainframes continue to be a favorite, especially with the banking sector. Major banks and financial institutions have mainframes at the center of their technological strategies. Do you think why? All this while you were told that the popular storyline is that n