Having a performing and flexible IT application landscape is vital for a bank’s success, mainly due to the fact that information is the major asset for such an institution. Changes such as the introduction of a new core banking system represent a source of major risks as well as real opportunities.
Unfortunately, these opportunities have a price: the bank’s IT infrastructure needs to be globally harmonised with this new application ecosystem. And to reap the benefits, the bank’s end-to-end business processes must be covered and integrated.
So the key question is: how much of these business processes will actually be covered, how and when? Any non-integrated process will cause inherently undesired complexity at both business and IT levels. This situation leads mechanically to significant additional costs, rigidity and dependency towards technology and application vendors.
Part of the answer is because the solution does not only reside in a top-notch core system that is supposed to hold banks’ data. First of all, the core system must be implemented and integrated correctly. The most important consideration is to have these tasks driven by an overall functional architecture representing the bank business processes, and not driven by core system particularities, constraints and limitations.
Definition and integration of a global functional architecture based on the application landscape at short-/mid-/long-term, on the operational model and means, and respecting bank business process logic requires an experienced integrator with experienced people. This is where Crossing-Tech™ can help you in a structured, yet pragmatic way, always looking for rapid results and quick wins for bank’s business. This is what Crossing-Tech™ calls urbanisation.
When a bank initiates a major application landscape evolution, risk must be mitigated and success optimised. All current statistics are witnessing how hard it is to reach those objectives these days when a short return on investment period is targeted. Skilful governance is therefore a MUST for such undertakings.
Each core system vendor is naturally only expert at its own product and invariably leaves the integration work to the bank. This is one of the cornerstones where the bank needs a team of experts who carry a long-term experience architecting, integrating and implementing banking applications of many kinds and for many purposes. This is because mastering the application integration in an urbanised way is important for controlling and driving a proper functional architecture that satisfies ever-changing business needs.
Risks and opportunities always come together with application landscape evolution. You need a partner with a global view of your run the bank and your change the bank, with deep hands-on experience of optimally connecting banking systems. These are the success factors Crossing-Tech™ can bring to you with its worldwide experience.