Reply #107: Typical core banking systems are not open source

[slackmaster]

A typical modern bank buys its software from a major vendor like Oracle or SAP or IBM any of dozens of other providers, and runs it on a commercial, proprietary Unix system. The source code for some of the systems may be available to the customers (i.e. banks) so that they can tweak it to fit their needs, but it's by no means open source software.

Things have changed a lot since I did my eight years as an information systems analyst for a bank, but open source banking software, which is certainly available, is not the norm for brick-and-mortar banks including ATM systems.

There is at least one major bank in my area that still runs its core systems on IBM mainframes. I know people who are still writing 370 assembler code for that company.