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The increasing demand from banking customers for cutting-edge digital use cases and seamless customer experience (CX) requires a robust and agile IT system to match. However, many legacy banks simply don’t have the infrastructure in place to meet these expectations.
Furthermore, when asked to list their priorities regarding future vision and roadmap, upgrading, replacing or consolidating legacy systems ranked as the least prioritized initiative, per our “Master Ecosystems: To Be Future-Ready In Banking” report.
The problem for many incumbent banks is that replacing or even upgrading their legacy IT systems comes with risk attached, and can be a costly and time-consuming process.
In this paper, we will explore the current landscape of legacy IT systems, the impetus to replace or upgrade them and the steps that banks can take in doing so, without putting their day-to-day operations at risk.