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Technology Stocks : Discuss Year 2000 Issues
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To: Ken who wrote (6424)7/9/1999 4:19:00 PM
From: B.K.Myers  Read Replies (1) of 9818
 
Ken,

I don't see how these points support the conclusion that the banking industry is furthest behind in preparing for Y2K. They do however, support the point that banking might be the most vulnerable to not only Y2K failures, but to many other disruptions.

From my experience, as both a programmer/analyst and an independent auditor, I can say that the banking industry has very high software standards. They have the best system documentation that I have seen. They have some of the best standards and procedures for maintaining their software. Of course, this does not mean that they will be Y2K compliant in time. After all, banking systems are highly date/time dependent.

In order to make the statement that they are the furthest behind, you have to compare them to other industries. But you don't compare them to any other industry.

I believe that the industries with largest number of embedded systems are the industries most likely to be furthest behind in Y2K remediation. The banks that I have worked for have always had good system software inventories, but almost no one has a good inventory of their embedded systems.

Very few of your points specifically address Y2K, so there is little basis to come to the conclusion that banks are the furthest behind in preparing for Y2K, only that they might be the most vulnerable.

B.K.
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