TECH BUYER Sep 2017 - IDC PlanScape - Doc # US42430117

IDC PlanScape: Core Modernization to Create the Connected Bank

By: Jerry SilvaResearch Vice President, Karen MasseyResearch Manager, Customer Insights & Analysis, Lawrence Freeborn, Michael AranetaAssociate Vice President, IDC Financial Insights

Abstract

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."


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