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Perspectives: Speed to Market

Banks are under growing pressure to deliver targeted products and services, but legacy systems, business silos and increasing regulation often hinder new product development. How can banks manage the development process to effectively respond to rapidly changing market conditions?

Facing increased pressure from customers for more-targeted offerings, banks have to be able to modify and develop products more quickly than ever before. But banks' legacy core systems often are cumbersome and require the involvement of IT resources for product development, making it difficult to develop products concurrently. The siloed nature of banks' line-of-business systems and the lack of IT/business alignment found at many institutions further hinder the process. Additionally, the regulatory environment is likely to intensify, placing more scrutiny on the products that banks develop and market to the public. How can banks develop new products to effectively respond to changing market and competitive conditions? And how can they manage the process in order to achieve concurrent development?

Annette Hazapis, KeyBank Global Treasury Management
Jim Neckopulos, Hitachi Consulting
Christopher O´Hara, PricewaterhouseCoopers
Doug Mow, Exigen Services

Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio

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Bank Systems & Technology - August 2014
Modern core systems are emerging as the foundations of effective channel integration and customer engagement initiatives.
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