Why veteran of a legacy vendor joined core banking startup crowd

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23 June 2017
American Banker

...For all these vendors,a large hurdle is the fact that for a bank, a core replacement is an expensive, hard and unappealing thing to do. If something goes wrong, people can lose their jobs and the bank can lose a lot of money.

"What does it take to get a bank to be willing to do a core migration?" O'Neill said. "These banks have 20 years of customization work written on top of what was a packaged solution in the 1980s. Sometimes they don't even know what some of this code does, and trying to unpack it all and drag it to the new environment … these bank CIOs just hold their heads."...

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News article details

Sector
Banking, Corporate Banking, Retail & Business Banking
Media Type
In the News
Location
Asia-Pacific, EMEA, LATAM, North America