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In software tech of course, not hardware. Still, who would have thought banks would want to get into the commercial software biz? Banks like any other businesses are looking for ways to improve profits. Seems some think software they have developed may have value. We will see - would be fun to see the money guys on the wrong side of market indifference.
The article says that the banking industry spends $65 Billion per year on r&d. Why ? It's not like banks create a lot of innovative new products. That kind of inefficiency might hint they would find it hard to compete with the open market , unless maybe by selling on brand "nobody get fired for buying IBM".
As for the offerings ? A secure messaging platform ? well you could download an open-source very high quality secure messaging system from "whisper systems" and use that as a base if you need further customization. So a messaging platform doesn't seem like something that could make huge revenues, at least based on product quality.
ippisl - agreed! Classic example of banks ignoring their own advice on how to launch and run a successful business. I can almost picture the course of events:
Banks tell each department that they need to increase profitability, either by decreasing costs or increasing revenue (or both)
Each department is tasked with coming up with a plan
tech department suggests they can start selling the software they developed for internal use
Everyone thinks this is a great idea and off they go. No critically tested business plan, no market assessment, no competitor assessment.
