Top 10 Financial Institutions globally are Customers of Micro Focus

 There has been a recent surge in IT (Information Technology) interest all across vertical sectors, including banking organizations and financial services. Therefore, it’s not surprising that Micro Focus would have more than 1,900 financial institutions in North America as customers. Moreover, 60% of top 100 financial institutions in the U.S. are in this count, as well as the top 10 institutions globally.

Changing regulations because of a faltering economy, such as Federal Deposit Insurance Commission’s (FDIC) recent announcement for the modernization of deposit systems, created a demand within the capital markets to modernize IT. “We have seen that the results are catastrophic when these large financial institutions have been too slow to respond to market conditions and changing regulations,” said Ken Powell, North America Micro Focus President.

He added that “IT departments within these organizations may have some mission-critical applications and valuable business logic; however, these assets may be bogged down by their own unwieldy infrastructures. With Micro Focus, it will enable the financial institution to unlock their existing IT applications value, thereby turning them into very strategic resources.”

Lastly, the company understands the applications to automate core business operations. This would allow the financial institutions to locate mandated changes to be made quickly.