Abstract
Overview
Introduction
Core system replacement/ transformation has become a growing strategy for tier
1 & 2 institutions in Europe and ,increasingly, North America as compliance
pressures, need to faster time-to-market and organization agility create a
need to re-vamp the back office. This creates a number of challenges as to how
best tackle the scale and provide future-proof solutions.
Scope
- Covers retail banks in Western Europe and North America
- Areas covered include the need for a customer focused approach, system
flexibility and cost issues
Report Highlights
That core systems are so entrenched in a bank' s operations has prevented many
from making attempts at renewal projects in the past; however their lack of
flexibility and responsiveness is one of the key business drivers forcing
banks to readdress this viewpoint.
Over recent years banks have become increasingly acquisitive in order to
sustain growth, driving both consolidation in domestic markets as well as
cross-border activity, particularly in high-growth markets. As a result, many
banks have begun to address the core systems implications of their M&A
activities.
The rationale for having a consistent platform across multiple countries will
be further compounded as SEPA becomes a reality. As the ultimate result of
SEPA will be an open retail financial services market across Europe, so banks
that have already moved to a consistent platform across their operations will
be at an advantage to their peers.
Reasons to Purchase
- Gain visibility into the dynamics of the retail banking core systems market
- Gain market insight to assist in your strategic planning and go-to-market
strategy
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