Overcoming Obstacles to Unlock the Full Potential of Banking Systems.

Overcoming Obstacles to Unlock the Full Potential of Banking Systems.

Banks have long relied on mainframes to handle the bulk of their credit card transactions, with 92 of the world’s top 100 banks still relying on these systems today. However, the COBOL experts managing these systems are increasingly retiring, and the increase in banking channels and 24/7 transactions are causing costs to skyrocket, making the need to modernize the mainframes critically urgent. 

The challenge lies in the fact that these systems are large and complex, with any downtime having a critical impact on customer access to their accounts and even ATMs. To remain agile and innovative and to unlock trapped value in past investments, banks must consider modernizing their mainframe application portfolio and moving to the cloud environment. This requires strategies that take into account the complex nature of these systems and a transformation process that will allow for the creation of modern and cloud-compatible applications. With the right approach, banks can ensure that their mainframes remain secure and operational for years to come.

• What challenges do banks face in modernizing their mainframe? How can banks reduce their mainframe costs?
• How can banks modernize their outdated computer programs without major setbacks?
• How can banks move their data to the cloud in stages? What should they do to keep it safe?