The Modern Bank: Powered by a 3rd Generation Core Platform
Financial institutions are facing tremendous competitive pressures that continue to challenge their business at the core. If these pressures are left ignored, FIs will become a commoditized utility, leading to significant consolidation in the U.S. banking sector over the next 8-10 years. The FIs that thrive in the future will modernize their core platforms enabling them to pivot quickly and adapt to a changing environment and easily deliver flexible customer centric, digital, data driven experiences that will allow their business to sustain growth. These customer experiences must be built on modern cloud-based architecture driven by 3rd generation core technologies. Those who remain on 40+ year old rigid mainframe technologies will not be able to evolve and likely won’t survive this next wave of consolidation. The speakers in this session explain the characteristics of the 3rd generation banking core and the valuable capabilities these new platforms provide and why is it important for FIs to begin planning for the modernization of their core platforms now.