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Leveraging Next Generation Solutions to Improve Bank Efficiencies

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Core Banking Technology: Reducing Cost and Complexity – Leveraging Next Generations Solutions to Improve Bank Efficiencies

Core Banking Technology: Reducing Cost and Complexity – Leveraging Next Generations Solutions to Improve Bank Efficiencies

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  • 1. Core Banking Technology Reducing Cost and Complexity – Leveraging Next Generations Solutions to Improve Bank Efficiencies Richard Walker, Principal, Deloitte Consulting LLP Copyright © 2013 Deloitte Development LLC. All rights reserved.
  • 2. IT Complexity and the Impact on Business and Operations The heritage of the batch process architecture is holding the industry hostage. Every aspect from client experience to operations is impacted by the unnatural acts required to create the impression of a real-time environment and the inflexibility of change in the environment. Innovation? Forget about it. Regardless of whether you choose to take on the challenge of core transformation, something has to change in the face of issues such as: • Inflexibility resulting from “paved cow paths” • Escalating costs • Increasing regulatory requirements and scrutiny demanding more agility Copyright © 2013 Deloitte Development LLC. All rights reserved.
  • 3. Is core transformation the answer? This is not a new question. But lately, experiences at banks in other geographies are notching impressive results from their core transformation efforts in areas such as: • Improved customer service • Better efficiency ratios • Brand/reputation improvements • Faster, more accurate regulatory compliance efforts • Reduced risk Copyright © 2013 Deloitte Development LLC. All rights reserved.
  • 4. Will Simplification Really Make a Difference? Copyright © 2013 Deloitte Development LLC. All rights reserved.
  • 5. Will a new core platform reduce the operational costs? By when? Copyright © 2013 Deloitte Development LLC. All rights reserved.
  • 6. Will a new core platform improve our ability to respond to today’s increasingly onerous regulatory environment? Copyright © 2013 Deloitte Development LLC. All rights reserved.
  • 7. Thesis: We are at an inflection point in the industry. Without change in the core processing infrastructure, banks will be unable to achieve breakthrough efficiency improvements and become more responsive to change without crushing costs and elongated cycles to meet market and regulatory expectations. Copyright © 2013 Deloitte Development LLC. All rights reserved.
  • 8. This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. Copyright © 2013 Deloitte Development LLC. All rights reserved. Member of Deloitte Touche Tohmatsu Limited