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Perspective: Core Abstraction — Rethinking Core System Modernization

Perspective: Core Abstraction — Rethinking Core System Modernization

This IDC Financial Insights Perspective discusses the core abstraction strategy being employed at banks. Given all of the attention on consumer mobility and the glimpses into the future of financial services that the industry is introducing through new products, it is difficult to believe that banks have been able to accomplish all of this innovation, given their dependence on what are often decades-old, COBOL-based, and legacy core banking systems.

Please Note: Extended description available upon request.


In This Perspective
Core Abstraction: Beyond Componentization
The Right Reasons to Modernize the Core Banking System
Real Time
Agile Product Development
Improved Reliability and Maintenance
Digital Transformation
Considerations
APIs
IT Investments
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