Reliable core banking systems originally designed and implemented for branch- and call center-based businesses are being taxed beyond their intended purpose. Institutions need to become more flexible to compete with digitally advanced businesses. With expectations to have transactions processed nearly immediately, customers and partners are increasingly demanding to combine new products and services with innovative capabilities and services.
To deliver, you need core systems that provide the foundation for how critical digital functions are supported and delivered. Whether optimizing core services or cutting over to a new core banking system, adopting a modern cloud platform to support core banking can provide the agility banks want with the security you need.
This checklist offers things to consider as you evaluate a core system transformation:
• Meet the increased customer expectations
• Break down disconnected technology systems
• Remove integration barriers for scale
• Weighing the cost of core modernization