Challenge: Over the last two decades, organizations in the financial services industry have often managed to address rapidly changing customer demands while more or less retaining existing IT systems and infrastructure. This has effectively extended the productive life and return on investment for core platforms. However, organizations are increasingly losing out on the efficiency and flexibility that a contemporary infrastructure would offer to meet continually expanding demands for new capabilities.
Transitioning to modern banking, cards, payments and customer communications systems is inevitable. But to be successful, the business case will have to take into account the need to incrementally address ongoing impacts in the areas of: regulatory compliance, business and revenue consolidation/expansion, mergers and acquisitions, cross-border and international operations, and emerging “born digital” competitive offerings. And, while the financial benefits of a core overhaul delivering a dramatically improved banking experience for customers could be real enough, the overwhelming counter-argument has always been around how well the risks of such a transformation are understood.
Why CeleritiFinTech: Our mandate is to help the banking industry modernize its business environments through advanced core banking software platforms and a broad suite of related services and solutions that address the significant challenges of the day. By bringing together unique skill sets, a depth of knowledge in core system development, and decades of experience managing complex upgrades, we can help banking clients chart out a customized modernization roadmap that ensures maximum gain with minimum business disruption and associated risk.
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