Challenge: Over the last two decades, financial services organizations have often managed to address rapidly changing customer demands while 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 and payments systems is inevitable as 20th century account-centric processes yield to 21st century customer-centric technologies. But to succeed, the business case will have to account for 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 an overhaul delivering a dramatically improved banking experience for customers could be real enough, the counter-argument has always been around how well the risks of such a transformation are understood.
Why CeleritiFinTech: CeleritiFinTech’s mandate is to help the banking industry modernize business environments, designing customized roadmaps that ensure maximum gain with minimum business disruption and associated risk. Our goal is to make modernization an agile and adaptive process, leveraging advanced banking software platforms and services to deliver speed to value. And with a deep pool of subject matter experts, CFT will provide banks with on-demand talent who can help them steer an efficient path towards a desired future state.
Select the issue below to see how CeleritiFinTech can help you modernize your core applications.
