An object-oriented strategy for banking

Abstract

Many information strategists today agree that the Object-Oriented Technology (OOT) has particular requirements that should not be omitted from a traditional Information Technology (IT) strategy. An Object-Oriented Strategy (OOS) model, developed using an Object-Oriented (0-0) methodology and addressing the particular requirements of OOT, can provide invaluable guidelines as to the deployment of OOT in any organization. For organizations that are traditionally conservative to technological change, an OOS can also provide guidelines for dealing with the cultural and organizational changes that inevitably accompany the transition to OOT. This is especially so in the bank domain where the need to protect the wealth entrusted by its customers (this need can be traced back to Babylonian times) is a contributor of the conservative approach to change. This paper addresses the importance of an OOS for banking through a brief history of banking and information strategies, software complexity issues that influence information strategies, current O-O methodologies and standards, and a brief discussion showing how an OOS can be derived using an O-O methodology.