Technology Strategies & Best Practice in Core Transformation

Introduction

Core system replacement/ transformation has become a growing strategy for tier 1 & 2 institutions in Europe and ,increasingly, North America as compliance pressures, need to faster time-to-market and organization agility create a need to re-vamp the back office. This creates a number of challenges as to how best tackle the scale and provide future-proof solutions.

Scope

• Covers retail banks in Western Europe and North America
• Areas covered include the need for a centralized approach, system flexibility and sourcing options

Highlights

Banks are finding that the siloed, fragmented, nature of their existing core systems are a stumbling block in being able to achieve fundamental business imperatives. As a result, banks are looking to move to a centralized approach and simplify their operations in order to become more responsive to the market

In order to facilitate a real-time architecture, banks must move to a straight through processing framework. By automating their systems to the greatest extent possible, banks will not only be able to realize a real time operating environment but also reduce the time, cost and associated errors of manual intervention.

Many vendor solutions are now sophisticated and flexible enough to meet the complex requirements of even top-tier banks straight out of the box. As a result, who builds, hosts, develops and maintains core systems is becoming more of a sourcing issue rather than of strategic competitive advantage.

Reasons to Purchase

• Gain visibility into the dynamics of the retail banking core systems market
• Gain market insight to assist in your strategic planning and go-to-market strategy