The complete core banking checklist
When seeking a core conversion, every bank must find the platform that best fits its strategy and individual needs. It’s critical for banks to stand back and evaluate each solution based on its broad characteristics: Can you configure it to meet your needs? Does it have the basic business functions to support a customer-centric banking environment? Our experts agree—banks should first evaluate the broad system characteristics before moving on to specific applications.
The following are the eight considerations that are critical for competing in today’s financial environment:
1. Flexibility and Configurability
Banks need a core solution they can easily tailor to fit their own unique needs, without time-consuming, expensive, difficult to manage customizations. That means the platform must give your system administrator the capacity to tweak fields, screens and workflows to fit the way your institution works.
Questions to ask to ensure the flexibility you need in core technology include:
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