The technology at the core of many Financial Services Industry (FSI) companies is outdated—layer upon layer of aging information technology (IT) systems, including mainframe computers dating back to the 1960s. This results in high maintenance costs, ever-decreasing supply of knowledgeable staff to support it, and degraded business agility.
FSI respondents to Protiviti’s 2015 IT Priorities Survey identified some important catalysts driving them to replace core systems. In this article, we discuss the three main drivers: risk mitigation; cost savings; revenue generation. By developing a well-reasoned plan for IT core migration you can help your organization cut costs, increase revenue, and mitigate the growing risk of an embarrassing IT-driven strategic crisis.