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State Street modernizes with cloud, Linux technologies

Jon Brodkin, Network World | April 14, 2011
State Street Corporation says technology must evolve to meet the increasingly demanding needs of financial services, and within its own data centers is adopting new cloud-like technologies and placing a greater emphasis on Linux and open source.

The first production applications -- targeted at State Street's external customers -- will be running on the Linux-based cloud this summer, he said. While Linux is the initial focus, State Street's cloud project won't be devoted entirely to open source. "Over time, we'll have a .NET cloud," Perretta said.

In financial services, providing real-time access to data is crucial. Toward that end, State Street is also looking at whether to adopt any of the new data warehousing appliances from Oracle, IBM's Netezza and Teradata.

"Some of the real business and operational savings comes from rationalization of data structures and data definitions," Perretta says. "We think that's very important. But it doesn't happen overnight."

 

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