CBInsight; Online; July 2016
Have you ever seen a car driving down the highway that has obviously seen better days? You know the one—taillight out, belching smoke, a bumper hanging half-way off. While buying a new car can be pricey, the risks from not doing so—to the car’s driver and other drivers on the road—are even greater.
A bank’s core system is very similar. While a core conversion can be costly and complicated, putting off a needed system change is far more risky than the conversion itself.