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Financial Services Caught in the .NET

Financial Services Caught in the .NET

In the next three years, Aite Group anticipates service-oriented architectures will encompass over 75% of all new development in financial services.
By Adam Honore

Boston, MA, February 1, 2006 – According to a new report by Aite Group, LLC, with the proliferation of .NET development in financial services, IT organizations have learned practical lessons about implementing .NET for mission-critical applications. This report discusses practical lessons learned through interviews with firms who have applied .NET development to enterprise-scale projects. As Service-Oriented Architectures become the predominant architecture in financial services development, .NET really becomes one of two choices in the underlying framework.

According to Adam Honoré, Senior Analyst and author of the report, "As more firms look to efforts in removing data silos, migrating dated functionality, or creating agile infrastructures, Microsoft’s .NET platform will be a natural choice for many." Honoré adds, "Normally, mentioning a legacy system migration creates looks of horror in the executive conference room. The dollars and operational risk can be enormous. However, leveraging a Service-Oriented Architecture with .NET web services creates a natural path over time."

This is a 36-page Impact Report. Clients of Aite Group's Retail Banking, Wholesale Banking, Institutional Securities and Investments and Wealth Management services can download the report.