For banks, core system modernization is no longer a matter of “if”.
In order to maintain loyalty of modern customers, already used to cutting edge solutions in daily lives, as well as to leverage emerging technology such as generative AI, banks must consider how and in what manner their cores are to be modernized.
Proper modernization is however an immensely complex and costly process. This applies to various facets of the process: from prudent selection of technology, alignment of multiple business needs, the ever-increasing regulatory strain and growing expectations of the end user. We believe that only with a strategic partnership with IT vendors and Cloud providers can banks achieve success and competitive advantage -- not just in relation to other players on the market, but also innovative Fintechs, who lack the institutional overhead of traditional banks.
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Part 1: The modern landscape
- Define banking modernization. What do we actually mean by transformation?
- Partnership strategy as key to successful modernization
Part 2: Challenges in Core Banking Modernization
- Modernization is not easy. Where are the risks and how to mitigate them?
- Decaying technology as a systemic challenge that must be faced
- Core modernization is a matter of „when“. How to time it correctly?
- Open API architecture: product change, customer relations, technical competency and regulatory compliance
Part 3: Core Banking in practice
- Modern core banking success story – Thought Machine
- Microsoft Azure Data Center launch – how it will impact the sector
- How we built banks and cloud-modernized existing institutions – GFT
Q&A (15 minutes)
Andrzej Szelemetko, Senior Solution Architect, Core Banking SME, GFT Poland
Andrzej is responsible for GFT's growth in cloud-based solutions for the financial sector, building technological excellence with partners and helping find and nurture top cloud talent. With 12+ years of experience in the industry in various roles and organizations, Andrzej is a seasoned architect of cloud solutions with focus on helping business leverage the true potential of modern cloud architectures. His previous roles include technical and leadership positions at PwC and Citi; he was also a key contributor to Mox Bank – a fully cloud native virtual bank built from the ground up in the cloud.
Tamas Josvai, Financial Services Industry Director - Microsoft, Central and Eastern Europe
Tamas Josvai helps financial institutions to better utilize the power of the latest digital technologies to reach compelling user experience, build new revenue streams by data monetization, introduce beyond banking services or optimize internal operations. Tamas is a well-known speaker on banking conferences and fintech events, where he shares his expertise and insights on the latest trends and innovations in the financial services industry. Tamas holds MSc in Engineering and Management, MSc in Business Administration, speaks Hungarian, Russian and English, a senior cross-fitter and a father of 2 girls.
Travers Clarke-Walker, CMO, Thought Machine
Travers heads up Thought Machine’s marketing team, and is responsible for leading brand building activities to drive global growth. Travers has more than 15 years’ board-level experience scaling regional sales and marketing functions across software, banking, energy and retail industries. Before joining Thought Machine, Travers was chief marketing officer at Fiserv and managing director at Barclays, where he led the market launch of peer-to-peer payment app PingIt. Prior to this, Travers was responsible for launching EDF Energy into the UK, as well as building their pioneering Nectar scheme.