Banks: Do you really LOVE your core system?
We all use two kinds of software:
A. Stuff we like and choose willingly.
B. Stuff we use because everyone else does.
ABA Survey: 53% of Banks are Satisfied with Their Core Platform Provider
Put aside fear and hesitation. Do the analysis. Change is possible. There may be better, faster, cheaper, more secure, platforms that you can bring into your bank.
At some point, the bigger risk is NOT taking the leap.
Nobody got fired for buying IBM. Windows is still the defacto global standard. Your bank’s core system is still chugging away. There’s no crisis. But there may be greener grass on the other side of the fence.
You can start small, with a “side core”. Or you can be more ambitious and go big.
Changing your bank’s core provider can feel even more drastic than replacing your MS Windows devices with Macs or even Chromebooks. (Not a terrible idea, actually.) Don’t rush into a conversion. But don’t dismiss the idea casually. The day may come when conversion becomes the obvious choice, worth the risk and pain. (The pain may not be so bad!)
Paraphrasing Thomas Jefferson:
“Prudence, indeed, will dictate that [Platforms] long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and [issues] …evinces a design to reduce them under absolute [stagnation], it is their right, it is their duty, to throw off such [Platforms], and to provide new Guards for their future security.”
