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Search Results for: core systems

Why banks fear core systems change

I was listening to a group of CIOs talking about legacy systems change the other day. One said that it doesn’t matter how old the systems are; it’s all about whether they are maintainable and fit-for purpose. I kind of agreed with that, although I cannot think of any silo-based, …

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Core systems should have built-in obsolescence

Talking about moving from proprietary to open, from controlled to marketplace and from internal to external focus, another key change is the very nature of technology itself.  It’s quite clear that a start-up today could launch with just a few thousand dollars, Amazon Web Services and a bright idea.  There …

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The real reason for core systems refreshment

I’ve been advocating for some time that banks should refresh core systems.  A complete renewal of the back-end.  Everyone tells me I’m an idiot for saying so.  It’s impossible, stupid, naïve and impractical.  OK, I hear that.  I know it’s not going to be easy but, if a bank has …

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Convincing management to renew core systems

I’m often asked what I mean by a digital core and how to convince management to buy into it. What I mean by a digital core is that the bank has made itself cleansed and ready to join the new generation of fintech.  It has renewed and refreshed its core …

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How one bank changed core systems

After blogging yesterday with my regular beat to get rid of old legacy systems, I then had another thought.  Don’t get rid of them.  That is a possibility.  Maybe you don’t need to replace the core.  Maybe you just need to create a new platform that is digital and gradually …

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How one bank changed core systems

After blogging yesterday with my regular beat to get rid of old legacy systems, I then had another thought.  Don’t get rid of them.  That is a possibility.  Maybe you don’t need to replace the core.  Maybe you just need to create a new platform that is digital and gradually …

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Problems at Abbey due to core systems upgrade

I mentioned the other day that Middle Eastern banks were upgrading core systems in six months whilst, in the UK, the last major upgrade I’ve been aware of is that of the retail bank, Abbey.  Abbey are changing core systems to implement those consistent with their Spanish owners, Grupo Santander, …

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Changing core systems in under six months

Another amazing area of change in the Middle East is the speed with which the banks can change core systems.  Many of the banks here have changed their core systems to offer improved wealth management services combined with Shari’ah compliant products.  This became clear when one of the keynote presenters …

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Will blockchain replace core banking?

I’ve got lots more to write about digital transformation and the things I’m learning from banks engaged in doing it but, to give you a break, I also have a couple of fantastic guest submissions which are worth sharing. Today’s share is from Simon Taylor, he of the blockchain fame …

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