Whitepaper
Stessa Cohen report: Build a low friction bank for innovation and collaboration
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About this content
Strategic technology advisor Stessa Cohen, former Research Director for Banking at Gartner Group, writes that banks must realise the foundation for innovation is a platform free from legacy friction.
What you will find
- Why and how financial institutions are reaching the limits of the legacy systems they installed years ago
- How reducing the friction in processes, systems, and infrastructure can create new banking capabilities able to respond to the needs of customers
- Why legacy banking platforms cannot be the base upon which banks build modern and innovative new products
- What key goals and indicators an institution can use to measure the frictionless capabilities of modern banking software
Overview
- Banks have invested heavily in their trusted but ageing core banking systems, leading to a reticence to see them replaced
- Institutions have instead become tempted to create modern apps, websites and interfaces to give a new face to these outdated platforms
- They should instead utilises a Low Friction Bank Framework to create a new foundation for innovative services