Some things are given: your core banking system has to meet regulatory requirements; it should provide new ways to address your clients and enable the transition to digital banking experiences and omnichannel solutions. At the same time, core banking applications should remain robust and reliable.
The last thing you want is a radical redesign and drastic change in legacy core systems, yet you do need flexibility and plenty of leeway for systems to evolve and transform.
With the right support, banks can create work-arounds and amend their core systems, but this can result in ‘technical debts’. One alternative option is to adapt the core banking system so it can respond flexibly to new requirements.
Our job at GFT is to help you identify the best possible way to modernise your core banking system, by either updating your existing systems, implementing and customising a third party solution or developing your individual application.