Source: Finextra video: John Slater, CEO, SlaterLabs
John Slater is the founder and CEO of core banking system provider SlaterLabs. A former IBM employee, he started his own company, ICT, which took over the rights to a retail core system being built by IBM and the Spanish rural banks. He then sold the company to Temenos, and the system became TCB. After working with Temenos and completing his non-compete period, he started SlaterLabs in late 2005, with the ambitious aim of commoditising the banking industry by developing a system that allows banks to evaluate, purchase, implement, enhance and upgrade their software over the Internet.
In this interview, Slater discusses how:
- Vendor-supplied applications are under-represented in banks' total IT spend, mainly because they usually can't deliver what the banks want
- Demographics are changing within the bank IT community, and the latest technology is becoming more acceptible for mission-critical applications
- His company plans to create a more open, commoditised model for banking software using the Internet for evaluation, deployment and open collaboration and contribution from the banking community
- He plans to take his company public with a Nasdaq listing and direct public offering