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Core systems replacement

Feeling the squeeze

Under pressure from the City to show growth in fiercely competitive markets, the UK’s banks have continued to drive down costs as a proportion of income, some to around 45pc. Can they reduce them any further? What would they have to do to get to 30pc?

Many banks’ systems share similar characteristics: uncoordinated IT investments over the last 30 years, incremental development and a tactical approach have resulted in a patchwork of pain points. In spite of the problems banks have been reluctant to replace systems due to the cost and risk, but we believe that in many banks the business case for replacement can now be made and the risks of replacement managed. Vendors are delivering more sophisticated, compelling and cost effective solutions.

We believe that only through core systems replacement can banks reach new levels of capability and efficiency, and the market will become polarised between those that decided to break the mould and those that didn’t.  

Platform and operational reviews | Product selection to implementation | Programme assurance and repair | Broad expertise

Platform and operational reviews   

We typically start by completing an end to end review of your existing banking systems, including infrastructure (servers, networks, telecoms, disaster recovery), applications (in-house, custom developed, package) and operations (organisation, departments, key processes).

We can complete these studies rapidly, to give you a quick yet thorough view on the 'as is' state. We apply our perspective through peer analysis, benchmarking and a wider market knowledge so that you can understand how your systems compare to the market and where you should concentrate their efforts.
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Product selection to implementation  

Our team is able to advise on the leading vendors and products, and help you through procurement by developing robust RFI, RFP and evaluation criteria. We are then able to offer unique impartial advice to all aspects of the delivery life-cycle and support you through solution design, build and test.
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Programme assurance and repair   

If you have a programme in progress, we can review the current status, check progress, validate the solution and support realisation of benefits. Our team can lead accelerated situation reviews and if necessary subsequent programme recovery.
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Broad expertise  

Our team has a depth and breadth of experience that is unique in this market. We are able to advise on retail banking, corporate banking, insurance, wealth and treasury/trading platforms. From health checks, through selection to implementation, or programme recovery our team offers you practical, pragmatic and impartial advice based on deep experience.
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Useful links

  • Tim Walker
    Lead Partner - Core systems replacement.

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