This IDC PeerScape describes three practices that financial institutions have leveraged in order to modernize their core banking architectures."There has been a great deal of work done in upgrading the actual process of modernization itself. Industry leaders now understand the true complexities of what is involved in creating outstanding digital banks and are seeking solutions that can optimize not just results, but the modernization journey as well," says Michael Yeo, associate research director for IDC Financial Insights. "Leaders in financial institutions must survey the landscape of options available and play major roles themselves in identifying the outcomes they wish to drive, how they want to get there, when they want to see results, and how they will continue to move forward post-implementation."
IDC PeerScape Figure
Executive Summary
Peer Insights
Practice 1: Use Cloud-Native Architecture to Achieve Scaling and Customer Growth Goals
Challenge
Example
Guidance
Practice 2: Reengineer Banking Processes from the Ground up to Eliminate Customer Friction
Challenge
Example
Guidance
Practice 3: Leverage Dual-Core Banking Models That Can Optimize the Balance of Innovation and Stability
Challenge
Example
Guidance
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook