Development and Security


Working in risk, I am aware that I need to choose my product carefully. Whilst I could have taken the easy route and chosen Microsoft as the platform of choice, that is by no means the safest or the most profitable. I like others consider the IT revenue model of the future is not the code or the cost of developing the code, granted they are significant. These are significant but more importantly, it is about service, delivery, resilience, scalability and diversity.

Most systems developed in the financial sector are (with the notable exception of screening) specialist deployments, one-off deliveries. Written by companies who don't live in that world, and quite honestly just deliver the client brief, however flawed that brief might be. In the big wide world where margins are tighter and the key risk is your competition and the bottom line, there is an ongoing shift towards implementing end to end workflow solutions.

So why have I chosen Odoo? A relatively small Belgian Company, that currently has little exposure in the financial services sector?

Their model. It encapsulates best practices, open source code, built using open source software and has evolved to embrace scalable design. It is there in the open for all to see. Traditionally we were all brought up with the belief that the code was 'the special source', fought over, litigated over and protected at all costs. The main competitors such as Salesforce and Oracle focus purely on client facing CRM delivery. My focus is providing tools to the second line risk managers, for the business as their client. As a plus, you get a full-blown HR and CRM system as well. 

Isn't open source less secure? No, vulnerabilities are discovered and fixed fast, others depend on it, proprietary software has a conflicted interest in disclosure and may patch on the quiet, however, it is commonly implementation that creates these vulnerabilities. This is important information that as a provider is vital to maintain security.


  


Currently, we are using Digital Ocean with servers in London and Singapore. This will be moved to local hosting in Guernsey or Jersey as required. The application can also be easily hosted in-house if your technical skills support other platforms.