For the past 25 years bankers have been switching to better core systems, and those who chose wisely are in no mood to replace a very valuable resource -- more valuable than the day it was installed -- for three reasons:
1. Increased use competency of their core system by every bank employee in the chain.
2. Ongoing completeness and modernization by top vendors of core systems.
3. Integration, thanks to product infrastructures that can accommodate new apps.
Here are some of the dynamics of this business:
Prior to let's say 1980, core processing was a sloppy business. Uncommitted vendors (namely all the large correspondent banks), weak products, and technology that in the bank management suite looked more like a stepchild than a to-become-savior replacing labor-intensive operations activities.
Practical reasons why bankers switched in the past:
Reasons why 98 percent of U.S. bankers aren't switching to new core systems now: If it ain't broke …