Evolution or Revolution: Either Approach to Core Banking Investment Requires Proper IT Risk Mitigation
Source: IDG (International Data Group)
The banking industry in North America and around the world is reeling from the financial crisis. To change and adapt quickly, institutions recognize that large-scale IT investment and realignment will be required, with core banking investment on the agenda for banks of all sizes. Yet to meet project goals and achieve the promised benefits, most institutions do not have the rigorous approach to Enterprise IT Management (EITM) that such a "Bet the bank" investment requires. To mitigate the risk of refreshing or replacing core banking systems, institutions must first review their approach to IT management and ensure they have the tools in place to succeed.