Banking is experiencing a period of business model innovation brought on by the emergence of new market entrants moving the ball forward on customer expectations. Similary, some traditionally reliable revenue generators like fee income and net interest margins have failed to rebound in the recovery decade of 2009–2019 and institutions are looking for new ways to drive value creation. They are looking toward emerging business models to open new revenue streams and enhance the value-creation properties of a true platform, such as:

• Marketplace
• Banking-as-a-Service (BaaS)
• Hybrid/Platform

Emerging business models require a core system that can accommodate a range of new requirements. The core is a critical piece of the puzzle, yet key bottlenecks persist. How hard is it to get data from the core? How easy or complex is it to make a small change to something like a customer record? How long does it take to create and launch a new product? Banks looking to simplify legacy operating models, automate processes, provide innovative account features, and enable cloud deployment often simply don’t have the flexibility.