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Linux Sneaking into Core Banking

MALVERN, Pa. - It may have been worlds away, but it's still significant for the future of core banking - that is Linux's future. Sanchez Computer Associates Inc. announced the first deployment of a core processing system for a banking institution on the Linux operating system. First Mortgage KFT of...

By Staff Writer | Updated on June 17, 2003

MALVERN, Pa. – It may have been worlds away, but it’s still significant for the future of core banking – that is Linux’s future. Sanchez Computer Associates Inc. announced the first deployment of a core processing system for a banking institution on the Linux operating system. First Mortgage KFT of Hungary is using the Sanchez Profile core processing system, the Profile for Windows customer servicing platform, and the Sanchez FMS accounting system. “The open source power of Linux has the potential to enable banking institutions, such as First Mortgage, to gain significant system operating advantages, including cost savings, performance, and a new level of flexibility,” said Michael Haney, senior analyst, Celent Communications, a Boston-based research and advisory firm. “Sanchez is showing significant market leadership by demonstrating that Linux, once thought only suitable for edge services, can indeed be used to successfully deploy business-critical core transaction processing systems.” First Mortgage is an independent subsidiary of EuroDirekt National Savings, Hungary’s first online discount savings association.

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