Bankers Trust New York Corp.'s plans to sell its 401 k unit are the result of an incomplete overhaul of its huge databases and the New York bank's inability to earn a decent return in the retirement plan business after spending heavily to upgrade its technology.
In the past few years, the bank embarked upon a plan to unify a mix of client/server and mainframe databases supporting its defined benefit and defined contribution retirement plan clients, according to a person familiar with the
Anthony and James look news pertaining to cryptocurriences and blockchain deployments, as well as AI and cloud.Subscribe to Weekly Wrap emails
- Buy-Side Technology Awards 2018: All the Winners
- In Praise of Perseverance: Laura Barrowman, Credit Suisse
- Alt-Data Difficulties Challenge Largest Asset Managers
- Brexit's Unintended Consequences Could Include Mifid III
- Wavelength Podcast Episode 145: CSDs Consider Crypto; Bank Robberies & AI; DTCC's Blockchain