Core systems transformation for banking
New answers in challenging times
Are older systems holding you back? How fast can you launch products or comply with new regulations? Today’s economy demands that financial institutions develop the agility required to execute strategies that are based on rethinking business models. Beyond simple cost cutting measures, which tend to reduce capacity, banks need to find new ways to lower their cost curve to reduce operating costs on a permanent basis. In order to meet these needs, they must reduce complexity—while addressing competition, regulations and the operational issues that result from mergers, acquisitions or divestitures.
Smarter operations start at the core
A smart bank anticipates client needs, is customer-centric and delivers innovative products more quickly, cost effectively and consistently than the competition. The core systems transformation solutions for banking can help your bank enhance data capture and integration from across the organization and beyond to create a "single source of truth" with improved data quality and integrity. By employing an instrumented, modular architectural design, the solutions provide for greater efficiencies, reuse and plug-and-play abilities. They can also help you achieve predictable outcomes of IT-related services at the lowest possible unit cost.
The data is then made available across the organization and beyond, providing you with granular control of information across customers, counterparties, partners, suppliers and social networks. This interconnectedness allows for superior agility, and can help you quickly and efficiently respond to evolving business needs, innovate across the value chain and seize market opportunities. In addition, analytics capabilities—that can be applied to structured and unstructured data—help you develop near-real-time insights that are forward-looking and predictive. This information can be used for dynamic relationship pricing, product bundling, customer and product analytics, and other business decisions.
Simplify, standardize, speed up and save
Your bank's success depends on smart cost and risk management, efficient operations and strong customer relationships. Our core systems transformation solutions can help you drive:
- Growth—reduce time to market for new products, services and segments.
- Efficiency—lower costs, reduce duplicative data, and simplify products and processes.
- Resiliency—build an evolutionary architectural framework that improves control and flexibility.
- Compliance efforts—adapt to regulatory-driven change quickly and easily.
- Innovation—create a customer-centric view to help:
- Design effective product bundles and enable dynamic relationship pricing.
- Create new business model(s) that improve customer centricity, loyalty and specialization.
The right tools for the job
Our core systems transformation solutions help banks move toward next-generation core systems in a progressive manner. The solutions are built on the IBM® Banking Industry Framework, which provides a core banking-specific platform delivering:
- Best practices, methodology and business-specific usage patterns to lower implementation risk.
- Banking extensions and pre-built solution accelerators to speed deployment.
- Service oriented architecture (SOA)-based middleware for a flexible run-time foundation.
- Master data management capabilities that enable a "single source of truth."
- Business process management capabilities for dynamic and automated processes.
- Business rules management capabilities for automating process decisions to enhance outcomes.
- A choice of business applications from IBM Business Partners.
- Alignment of technology with business needs.
- Support for industry standards.
In addition, IBM offers the banking industry unparalleled technology and expertise. Optimize your business value with our proven products and services:
- • IBM Tivoli® software integrates and automates processes.
- • IBM Rational® software builds on existing investments and business functions.
- • IBM DB2® Content Manager manages imaging, digital assets and Web content.
- • IBM System p® and IBM System z® servers provide world-class, cost-effective computing.