To ensure long-term success, banks require adaptable, scalable platforms, but core tech upgrades are costly, complex, and risk-heavy, often causing delays.

Fast outcomes without critical potential risks:

We start by designing a blueprint for the bank’s target architecture. First, we identify products, capabilities, and accounts suited for migration and focus on transitioning customers with straightforward needs to a new tech stack. This “new bank,” loosely integrated with legacy systems, allows for quick modernization and a leaner, automated operation to reduce costs.

Using a test-and-learn strategy, we refine tech and operational models, paving the way for complex product and capability migration in phases. This approach minimizes risks, enabling gradual, efficient decommissioning of the legacy system without a disruptive “big bang” shift.

Smart Alliance for a Complex Journey

The success of this approach lies in finding the right balance between creating an independent new stack—free from the constraints of legacy systems—and utilizing modernized capabilities that ease customer migration.

While some legacy functions (like payments and enterprise tech) can still be used, many others should be replaced with best-in-class solutions that offer pre-built integration with the new core. For critical areas like consumer digital channels, custom-built solutions are often essential for differentiation.

The decision to use legacy, new-buy, or custom-built components is crucial, as it directly impacts both customer experience and project costs during migration. Banks must carefully manage routing between accounts on old and new cores, as well as validation, clearing, and settlements. Poor choices can result in rework, higher costs, or disruption to customer experience (e.g., changes to account numbers or sort codes).