APM Trends: Bank Assessed The Ability Of Core Applications To Suit Future Business Plans

The business leaders in one bank regularly plan business strategy several years into the future. During these sessions, leaders pose forward-looking questions: "How much will our business change seven to 10 years out, and will our systems support these changes?" The CIO and IT management had concerns about the viability of one particular application that was central to the core banking functions — a 15-year-old application developed and supported by a small boutique services firm. The CIO turned to application portfolio management (APM) to evaluate the whether it could be maintained in-house, and whether its design made it suitable as a foundation for the bank's future business strategy.