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Core banking application modernization

The challenge

Address complexity and efficiency

The ability to quickly introduce differentiating services can set a bank ahead of the competition. With rising client expectations of service excellence, unbiased advice and ease of use, differentiating products and services is even more crucial. Core banking application modernization from IBM can help you integrate best-of-breed application components, buy new packaged applications and incorporate horizontal enterprise-wide processes—or build new service-oriented architecture (SOA) components for a customized, lower cost and less risky approach.

 


The solution

Break free from complex systems

Smarter banking starts with modern core processes that open new possibilities for introducing and supporting the products your customers want. Core banking application modernization can deliver benefits quickly to your business. With robust tooling and methodology, you can migrate your customer, contract and product data incrementally from multiple existing systems to master data storage, and make it available to support processes across the enterprise.

IBM’s approach delivers a modular architecture, separates architectural concerns, reduces duplicity, and promotes reuse and sharing of enterprise assets. Dashboards can provide decision makers with views of up-to-date information on the portfolio so they can make more informed decisions that help reduce costs and drive efficiency. Analytics enable agile product management and dynamic product bundling to better meet the needs of your customers. Plus, as you create a more flexible infrastructure for core banking processes, you build the foundation for a more strategic architecture that can support improved risk management and better customer service.

Core banking application modernization provides a flexible, unified software platform that can help your bank anticipate and respond to clients’ needs while reducing the costs of developing, operating and maintaining the systems that span front, middle and back-office operations. The solution can help you break through the silos that often exist between a bank's departments, allowing true data transparency and application sharing. For example, when using the new framework, staff within one part of the bank will be able to track transactions across multiple business lines to identify fraudulent activity before it happens. At the same time, other staff, elsewhere in the bank, can use those same analytic tools to understand customer behavior and preferences.

 


The benefits

Accommodate new business requirements

Core banking application modernization can deliver benefits quickly to your business. The solution can help you:

 


The specifics

Move to a simplified, strategic infrastructure

With pre-built, integrated core banking software extensions, solution accelerators, tooling, templates and best practices, core banking application modernization can help you significantly speed time to value in your solution implementation. Components can include: