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IDC PlanScape: Core Modernization to Create the Connected Bank

IDC PlanScape: Core Modernization to Create the Connected Bank

This IDC study discusses a guiding principles tool for core modernization projects to assist financial institutions that are considering or already going on this journey."Core system modernization has historically been close to impossible and often career ending for IT executives at the institution when it fails," says Jerry Silva, research director, Global Retail Banking at IDC Financial Insights. "But by using a longer-term strategy that focuses on open API architectures, active support from technology partners, and line-of-business–led priorities in a progressive transformation, financial institutions will evolve to open core platforms that support improvements internally and create opportunities to connect with external partners to drive value."


IDC PlanScape Figure
Executive Summary
Why is Core modernization Important?
Reduce Cost to Operate
Agility — The Connected Bank
What is core modernization?
Core Abstraction
Cloud
Agile
Who are the Key Stakeholders?
The Executive Suite
The IT Organization
The Lines of Business
How Can My Organization Take Advantage of core modernization?
Essential Guidance
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