Abstract
This Financial Insights report tracks the number of new core
banking deals for 2008 in EMEA, and provides insight into
this core banking environment.
The EMEA marketplace for traditional core banking
systems is changing. The previous trend for more packaged and
complete banking systems and capabilities appropriate for tier 1 and
tier 4 institutions has reversed in favor of a more
modular and component-based replacement cycle. The risks of traditional rip
and replace have been well documented in too many organizations,
decreasing the appetite for this style of project.
"Going forward, there
will be an increasing emphasis on a managed portfolio of
capabilities under a proven service-oriented architecture (SOA) or similar framework.
To this end, there is a shift toward improving the
front end and the integration ' at the glass' over retooling
the back end in one large project," said Trevor LaFleche,
senior research analyst, Financial Insights, EMEA.
"From a delivery point of
view, software as a service (SaaS) is likely to be
the most fundamental change in the Western European market, as
these hosted solutions will grow in maturity across the region,
from greenfield operation requirements to multiuser agreements," said Rachel Hunt,
EMEA research director, Banking.
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