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[News] Failed Banks Try to Learn from Free Software Success

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Davos09: Open Bank

,----[ Quote ]
| They proposed the Open Bank. It would feature radical transparency: full 
| disclosure of performance and compensation. The group decided that a banker 
| should not sell a product unless he could pass a test about it. They even 
| decided that there had to be a means to confirm that customers understood 
| what they were buying. They proposed collective risk assessment, creating a 
| means for its constituents to select and perhaps vote on investments. They 
| explored how to offer transparency on each product and customers’ performance 
| with them so that you could compare your returns with fellow customers. And 
| they argued that bankers should be compensated on profit. It wouldn’t be an 
| easy business to run; being answerable is hard. I said later that its slogan 
| should be, “the only bank you can trust.” That is what would make it 
| successful. When I asked, most in the room said they would be such a bank’s 
| customers; many said they’d work for it; almost everyone said they’d invest 
| in it.             



PSBank migrates to IBM Syztem z for Linux application

,----[ Quote ]
| PSBank also said it has decided to migrate its database to IBM System z. The
| country’s second-largest bank will use the System z mainframe for seven
| Linux-based online transaction processor (OLTP) applications and its data
| warehouse, according to data obtained by the BusinessMirror from IBM
| Philippines.


Arab National Bank Selects Symark International’s PowerSeries Solutions to
Manage Privileged Access and Meet Compliance Requirements

,----[ Quote ]
| Symark’s PowerPassword solves these issues by providing UNIX/Linux user
| account management in addition to login and password security policies for
| resources stored and local accounts on UNIX and Linux servers.


Bank of America may finally embrace Firefox

,----[ Quote ]
| "As the usage of Firefox browsers has increased with our customer base, we
| will be initiating a full support model for Firefox version 2.x in the very
| near future," spokeswoman Tara Burke told Networkworld.com.
| Think "the very near future" will prove to be very soon? Don't bank on it.


Suncorp envisages Linux, ODF for 20,000 desktops

,----[ Quote ]
| Open source software is set to play an increasingly important role at
| Australia's sixth largest bank, according to Smith, who said that Suncorp
| will look to use open source "wherever we can".


FNB switches 12 000 desktops to Linux

,----[ Quote ]
| With 12 000 desktops switching to Linux this is very likely the
| most significant Linux and open source implementation in South
| Africa to date.


Oracle easy meat for Red Hat Australia

,----[ Quote ]
| He said Red Hat was currently working with a "large bank", whom he kept
| anonymous, to introduce Linux into its IT environment.


Open Source Slowly Gains Momentum on Wall Street

,----[ Quote ]
| Customers may be comfortable using Linux for infrastructure-type
| systems but less so for business software, said Monica Kumar,
| senior director of product manager for Linux and open-source
| software at Oracle.

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