An open source approach to core banking transformation
Banking leaders recognize the need to modernize their core banking systems. Business demand for innovation to craft more effective and streamlined customer journeys, along with the overall need for greater efficiency, continues to make transformation more necessary. However, the challenge of transforming a bank goes beyond a single new application or data capability. To transform, banks must balance the need for change between a push for better agility and the reliable—yet inflexible—core banking system.
Institutions approach core banking modernization in different ways. Some institutions extend and integrate components themselves, some partner with core banking system vendors, others use technology providers like Red Hat, and many combine all three approaches. No matter the approach, banks expect the same key results to come from transforming heritage core systems, namely:
- Improved time to market.
- Automatic scaling.
- Improved resiliency.
By looking at the infrastructure that supports what is needed to deliver business results, you can find the right approach to your core modernization journey.
