Embracing change at the heart of banking

Core banking modernization is an obvious necessity when viewed holistically. But first start by clearly defining the risks and impacts to create compelling reasons for change. Enhance internal awareness by promoting transparency and collaboration on the identified risks and the benefits of modernization.

A successful core modernization must first consider the strategic IT target state (beyond core banking) to guide a gradual transformation roadmap towards the north star. This approach reduces risks, balances investments, and ensures timely business outcomes.

Interoperability and composability are key for organizations to evolve with the market, thanks to high modularity and readiness for change across business and IT. Interoperable architectures enable a hybrid core where legacy and next-gen core systems work seamlessly together and with other systems, de-risking the transformation program and ensuring a fit for purpose approach.

Generative AI offers banks an exciting opportunity to replace their complex legacy COBOL code with simpler, more flexible programs that support their modernization strategy.

A modern core requires new skills and a deeper understanding of technology, change management, communication and partnering for rapid results. Ensure you have access to the skilled resources who will equip you to generate value in the future.