Take action today and drive success tomorrow
Traditionally the approach of replacing one core with another more flexible contemporary core, either as a big bang or a phased implementation has been a lengthy process that exposes banks to continuity and budget risks.
Although there are many transition journeys, most banks faced the reality that structural improvement is limited and temporary, as one monolithic solution gets replaced by another resulting in limited progression to cater to new business opportunities, drive efficiency, or create additional agility.
Optionality Today there are options to address the technology deficit and inefficiencies, as increasingly the target solution landscape is not a like-for-like transformation. Composability provides optionality for change – allowing banks to select business capabilities provided by smaller discrete software components and therefore align transformation to their business needs, and transform piece by piece.
Progressive Modernization has been successful for Temenos clients and provides a safe, secure, rapid, and futureproof path for banks that want to be competitive.
Modularity Furthermore, this is underpinned by the ability to work with components as modular services. This has the advantage of rapid time to value, and in the longer-term, lack of vendor lock-in as banks can create a plug-and-play capabilities landscape where they can change the relevant functionality instead of touching the entire core stack.
By re-composing to compelling banking services at a fraction of legacy costs, banks can embrace scalability on demand, without upfront investments, without required software or hardware management, and utilize proven capabilities and packaged software at once.