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Making the case for change
How to create a business case for core banking replacement
One of the biggest hurdles to core banking replacement is making the business case.
Too often banks do not have a clear idea of how to calculate the return on investment, or have an effective way to measure post implementation benefits.
You can’t put it off any longer – your bank’s legacy core banking system needs replacing. Clearly your bank has reached a tipping point where the cost and risk of doing nothing outweighs the cost and risk of taking action.
So how do you go about convincing your business partners to invest such a significant amount for a core banking replacement in today’s turbulent economy? There’s plenty of talk around core banking replacement solutions, but relatively little discussion of the true benefits of taking on the risk, investment and upheaval of such a complex project.
The purpose of this document is to outline a pragmatic approach to building an effective business case so you can make a case for change.