Solutions Donʼt Fail, Implementations Do
Representatives of leading banks shared the key architectural themes that they see as essential for success of the long overdue critical systems transformation.
4/20/20261 min read
Accenture and Microsoft, partnered with Global Finance & Technology Network (GFTN), a regional organisation that brings together financial industry practitioners from institutions across the ecosystem, to foster dialogue on common challenges. Held in conjunction with the Singapore Fintech Festival, and moderated by a banking practitioner from ASEAN Economic Forum, the roundtable was designed to unearth the inhibitors and challenges faced by bankers from ASEAN (Singapore, Malaysia, Indonesia, Philippines, Vietnam and Thailand) when it comes to Critical Systems (Core Banking, Lending and Payment) upgrades and transformation.
Representatives of leading banks shared the key architectural themes that they see as essential for success of the long overdue critical systems transformation. They also highlighted why some local and regional institutions fail to apply these themes ー legacy of ‘built-over-timeʼ software development, a lack of engineering culture, misaligned KPIs, and some resistance or lack of buy-in from the business. Addressing these challenges will solve the existing inhibitors and help banks harness the technologies of the future, like tokenisation.
Above all — a recurring theme emerged ー Solutions Donʼt Fail, Implementations Do so there was a strong emphasis on ‘donʼt just select the solutionʼ but the whole partnership of a Core Banking Solution + PMO / Implementation Partner that understands the bankʼs workings.