Sarbanes-Oxley and Basel II have placed an enormous strain on the legacy systems in many large banks. The biggest challenge is pulling data from disparate systems that are located throughout the bank and placing it into one central data warehouse.
With the implementation deadline for the Basel II Capital Accord two and one-half years away, large U.S. banks are working overtime to build the necessary databases on which to calculate how much regulatory capital they must hold. One of the greatest difficulties is pulling data from a variety of legacy systems and getting it into one central location where it can be thoroughly analyzed. This problem also sheds light on the weaknesses in the legacy architecture that most large banks still maintain.
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