How can institutions move off mainframe-based legacy core banking systems? And can institutions really move straight to next-gen core platforms? Celent 2025 Model Bank Award winner for Core Banking Modernization, BancoEstado, shows both can be done, even for large banks.

BancoEstado is the largest bank in Chile by customer base, servicing most of the nation with the CuentaRUT accounts. While reliable, its mainframe-based legacy core platform was becoming increasingly expensive to service strong market transaction growth. To address this, the bank adopted a phased migration approach, shifting 14 million customers over a few years to Mambu, a next-generation, cloud-native digital core, running both platforms in a parallel without impacting the customer, a massive undertaking. The project is close to completion, with BancoEstado seeing strong cost and innovation speed benefits.

A highlight reel of BancoEstado's initiative, along with a one-page overview are available to everyone. A full-length case study report diving into this initiative is only available to Celent's subscribers. Please log in to access this report.