At their core, financial services industry (FSI) companies are technology businesses. Every product and service they offer is technology-enabled, and the rapid evolution of mobile banking and digitization of processing makes technology even more critical. At the core of these businesses sits a long-standing, and growing, problem: outdated information systems. Aging information technology (IT) systems pose significant problems that can easily degenerate into strategic risks.
To prevent these risks, FSI companies need to modernize. Too few of these companies are considering modernization efforts, however: Less than one-third, according to the latest Protiviti research. In this white paper, Protiviti examines the need for this renewal, assesses the risks and benefits of core modernization, and identifies five approaches.