In a multi-channel world, core banking systems are mission critical to banks that are required to operate 24 hours a day, 7 days a week. The costs of keeping legacy core banking systems operating are steep: Aging systems and infrastructures constantly need updates and renewal. Banks that delay updating core systems risk losing their competitive edge.
Microsoft and its partners help your people renew and optimize core banking systems with solutions that connect information, systems, and people.
Microsoft and its partners focus on helping banks leverage technology to amplify the impact your people can have to drive business success. We help your people develop relationships, drive innovation, improve operations, and build connections.
Solutions from Microsoft and its partners enable you to renew core banking systems in a managed, gradual, and modular way at a differentiated cost. Leveraging modern banking applications on a platform based on Microsoft technologies enables a phased, strategic approach that lets your people improve operations, reduce costs, and prepare for growth. Implementing a modular, component-based enterprise solution ensures strong integration with your existing technologies. An overall service-oriented-architecture (SOA) helps banks reduce the risk that can result from multiple data entries and out-of-date information, increase management approval, and avoid the potential disruption to business caused by replacing entire systems.
Integrate new services
A large banking operation might want to improve and provide access to consistent and comprehensive customer information. Their front-line staff can then provide better customer service and correctly identify opportunities to offer new products to existing customers. A new customer information service that is fully integrated with existing legacy systems is clearly preferable to replacing the entire core banking system at one time.
Implement new systems
Another bank might want to market a new type of mortgage offering that the existing core banking system cannot support. In this case, it's critical to implement a new and highly flexible lending system that is fully integrated with existing enterprise services, such as customer information, payments, and credit-limit monitoring. With the new system, the bank can integrate processes, provide consistent customer information, and avoid duplicating efforts, such as redundant data entry and writing extra code.
Deploy an integrated core banking system
Yet another bank might want to fundamentally change the flexibility of its core banking capabilities. They would still need to maintain integration with well-established distribution channels that are based on a multi-channel architecture. For this bank, a new, comprehensive, modern, and open-core banking system may be the answer. Such a system could provide easy integration that is assured through compliance with industry standards.
| Solutions | Benefits |
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Offer a modular, line-of-business, workload-by-workload approach to core system renewal. Provide a risk-managed strategy to migrate disparate, disconnected, and outdated systems to integrate customer and transactional information. Renew core systems in a managed way at a differentiated cost. Take advantage of a component-based architecture that has a strong integration with systems already in place. An overall service-oriented-architecture (SOA) helps banks reduce the risk that can result from multiple data entries and out-of-date information, increase management approval, and avoid the potential disruption to business caused by replacing entire systems. Easy to maintain and modify, banking solutions offer increased business agility due to use of SOA. Enable banks to avoid replacing their entire system and potentially disrupt business. | Reduce risk and complexityReducing risk and complexity means increased management buy-in and the opportunity to approach core banking renewal in a phased manner. Reduce costsReduce costs by continuing to benefit from existing technology investments. Improve overall operationsImprove your operations by updating systems in a strategic manner using modern application vendors' platforms. Improve time to marketUsing a modern and flexible core banking architecture enables product definition and orchestration of common enterprise services so that new products can be launched without lengthy software development and testing cycles. Create deeper and more profitable customer relationshipsModernizing your core banking systems lets you obtain a comprehensive view of the customer, enabling your people to identify existing and new revenue opportunities. Your people can match service quality to the value of the relationship when they are able to analyze integrated data, and they better respond to changing customer needs because of the flexibility of Microsoft and partner solutions. |
