It is not like this transition was to some mom and pop shop that has never done financial services before.boglenomics wrote: ↑Tue Jul 14, 2020 8:57 pm The problem with this is the risk it presents to the reliability and security of the software. Outsourced contractors if not very careful in selection will lead to degradation of the product since they are less loyal to the company and have less at risk if things don't go according to plan. They're incentivized to care less compared to a FTE who has tied bonus and stock incentives on the line along with the potential for future salary increase.
I'm an IT project manager and it's a vicious cycle I've witnessed, they outsource to offshore and then realize the terrible tech debt that has been created and customers depart. Most of the time it was really too many cooks in the kitchen to begin with. A small centralized highly skilled engineering team with the right incentives and local to HQ with little management overhead can be more effective than the average engineering team 10x the size.
A shame to see Vanguard go this route, this move puts them at serious risk of crippling tech debt. This is a perfect highlight of the flaws in American management.
You might already be doing banking or other financial transactions on their platforms.
I have not been a Vanguard customer for a long time, but reading many of the threads here, it might just be possible that this move will actually improve the customer experience when it comes to the IT platforms.
https://www.infosys.com/investors/news- ... rvices.pdf