Core Mission: Solving the Core Systems Transformation Puzzle
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(1)Overview: New financial services realities demand enhanced core functionality around risk, regulatory compliance and customer retention. To meet these demands while coping with a continuing global financial crisis and maximize the return on their technology investments, many banks are taking a phased approach to implementing new core capabilities. Three articles explore how some financial services firms are addressing their core systems issues: -- A Return to Core Values: Amid an economic downturn that is only beginning to show signs of a bottom, banks are reexamining their core systems, with a priority on phasing in capabilities to cope with new realities around risk, regulation and customer retention. -- Never Let a Crisis Go to Waste: There’s no better time for banks to reevaluate their core systems, according to Mike Barba, Manager, Information Risk Management Business, SMART Business Advisory & Consulting. -- Going for the Big Bang: HSBC Mexico taps CSC’s automated upgrade program to replace its core banking applications in one shot.
