Take It With You
Most financial institutions rely on some form of core banking system to provide their retail customers with lending and deposit products – loans, checking accounts and savings accounts. In addition, core banking systems deliver enterprisewide capabilities such as general customer information, branch services, input for the general ledger, and data on credit limits, payments and transfers.
Like the institutions that depend on them, core banking systems are feeling the pressures of an increasingly global financial marketplace. Institutions, notably those in the Asia Pacific (APAC) region, face growing competition from both new market entrants and established players. At the same time, these aging legacy systems are by and large unable to fulfill customer demands for a better financial services experience that includes competitively priced products, more attentive and faster service, and lower cost.