For Financial Services Professionals

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	December 2, 2004 Vintage Banking Platforms Need Renewal A Path To A Shortlist — Or To Banking Platform (Re)design by Jost Hoppermann with Martha Bennett, Elena Giovannini

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Executive Summary

Today's banking platforms need to cope with continuously changing business environments, and a continuous flood of new requirements, while staying sufficiently agile. While some banks have already started to move toward a new platform, others still need to do so. Banking platform renewal requires thorough preparation based on a business foundation, including a description of what functionality the business side can expect at the end of the renewal project. Banks can use this preparation to create a banking platform shortlist by applying criteria regarding platform architecture, next-generation banking platform requirements, reference projects (including the ability to deploy and support platform migration), forward-looking product road maps, and a vendor's market footprint. Most of these criteria need to be considered both in present and future terms. Given a complex application landscape and/or migration scenario, some banks may find it necessary to give more weight to real-life aspects, such as reference projects and the ability to deploy and provide migration support, when evaluating vendor offerings. After preparing for, and eventually selecting, a banking vendor, a bank can start preparing for the long journey toward its new banking platform.

TABLE OF CONTENTS

• Banking Platform Shortlists Need All-Encompassing Criteria

RECOMMENDATIONS

• Creating A Shortlist Requires Thorough Preparation
• Supplemental Material
• Related Research Documents

This is an excerpt