American Express Co.'s IDS Financial Services unit is considering development of a proprietary system to handle accounting for several divisions at its Minneapolis headquarters. The firm is also considering outsourcing as an alternative, looking to banks for possible custodial accounting services.
Currently, portfolio accounting at IDS is being handled by a highly modified version of Information Systems of America Inc.'s Oscars, which has been in use at the firm since 1980. IDS has confirmed
While at Sibos Toronto, James shares some interviews covering topics on blockchain, fintechs and cybersecurity.Subscribe to Weekly Wrap emails