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Wednesday, 24 January, 2024
11 am GMT

Digital Transformation in financial services

Rip & Replace – there must be a better way?

In partnership with

Tokyo
Why attend

Open heart surgery, changing the engine of a plane while in flight, big bang. These phrases have been used to describe the wholesale conversion from an old core banking platform to a new one. There’s even a dark joke about “what’s the first thing a CIO should do when asked to do a rip and replace project?, write their letter of resignation”.

Large, complex projects are not the sole preserve of financial services. Take, for example, the Berlin Brandenburg project. Originally scheduled to open October 2011, five years after construction started, the airport finally opened in October 2020 – 14 years after construction started and 29 years after official planning began. From an IT perspective, consider the attempt to create a centralized health care record system for the UK’s National Health Service. Launched in 2002 and expected to cost £6.2 billion, the project was abandoned in 2011 after spending more than £10 billion and failing to deliver the expected benefits.

In financial services there have been examples of large core system replacement projects that have gone awry. So what’s the solution? Surely there must be a better way?

Continuing the open heart surgery theme – is there a keyhole surgery approach to digital transformation? Something like angioplasty or valve replacement? Basically, is there a less invasive way to get the benefits?
Yes there is. There is a better way.

We call it “Symbiosis” / “Synthetic Core” / “Augmented Core” / “Distributed Core” / “Bionic Banking”.

In this webinar, you will learn how Bionic Banking works and what its benefits are. You will discover how you can use Synthetic Core, Augmented Core, or Distributed Core solutions to dramatically improve your competitive posture without disrupting your operations or compromising your performance.

Don’t miss this opportunity to find out how you can transform your core banking system with Bionic Banking.

Register now and join us for this exciting webinar.

The key take-aways

Rapid consumer evolution

Rising levels of competitive intensity

Rapidly growing cloud acceptance

The emergence of open ecosystem banking

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The webinar panel

Click to view full speaker details

This webinar is in partnership with

FINASTRA

Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world’s top 100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. Learn more at finastra.com.

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