UK's banks using "antique" computer systems

13:50 17th July 2008

The UK's biggest banks may be pushed into improving outdated IT systems by the current difficult financial conditions.

Many "archaeological" computer systems operating at some of the UK's largest banks - which still deal in pounds, shillings and pence - may be refreshed in the current market, as they are inflexible and expensive to maintain.

Barclays has recently launched a two-year IT project to link legacy systems to frontline applications using Java-based web services - enabling old systems to reconnect with new applications.

Ian Benn, managing director of payment services at Fidelity Information Services, identified that it was difficult to sell legacy system replacements.

He said: "This is because it costs hundreds of millions of pounds, takes four or five years to implement, is a risk because it might not work, and when it is finished it just does the same thing as the previous system."

A legacy system is an old computer program that continues to be used because the organisation does not wish to replace or redesign it.

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