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Yahoo News picks up the JP Morgan Story:

The banking giant used the Smalltalk development suite to develop its 'Kapital' financial risk management and pricing system.

"Smalltalk allowed us to develop Kapital much quicker than other languages would have," said Colin Lewis, vice president of JPMorgan.

"It provides good return on investment and saves costs associated with training and marketing for new products."

JPMorgan had estimated that to build Kapital in another language would have required at least three times the amount of resources to develop and maintain the application.

Lewis added that the Smalltalk part of its systems requires very little modification across differing operating systems - the bank uses Solaris, Windows NT and Linux.

"Portability and stability is a big issue for us," he said in a statement.

Smalltalk, explained its developer Cincom Systems, is based on 'pure' object-oriented techniques, and is easy for developers to use because it requires no in-depth knowledge of programming languages.