Banks seemingly build more than buy, but why?
Waters Wrap: A new report states that banks are increasingly enticed by the idea of building systems in-house, versus being locked into a long-term vendor contract. Anthony explores the reason for this shift.
This is a bit of a generalization, I know, but prior to the 2008 financial crisis, investment banks were building more and buying less. Sure, you had your Bloomberg Terminal, back-office vendor systems, and specialty order, execution, portfolio, and risk management systems, but the secret sauce was made in the building. I’m not saying it was 100% in one direction—it’s always a blend—but as I understand it, the pendulum swung toward build.
Then, 2007 led into oh-eight, and longstanding
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