Transform core platforms

Intelligent Digital is here

The challenge

High cost/income ratios are increasing the urgency of addressing technology debt for financial services organisations, as they move in pace with market evolution. Traditional financial services groups carry a technology debt from old-world systems and processes, while ‘born on the web’ newcomers can outpace and outprice them. This is driving the move from legacy systems to agile processes, digital services, and cloud-based application infrastructure and platforms. Companies will need to move fast to unlock the full value of their application estate, whether this means moving core platforms from legacy infrastructure to the cloud, or effectively rationalising and then managing the remaining core infrastructure.

Our view

In today’s marketplace it makes less and less sense to own IT infrastructure. With hyperscale cloud, organisations can consume services on-demand, cost effectively and with an almost infinitely scalable potential. Within this new world, the goal for ambitious companies is rapid, comprehensive transformation. Only new entrants can routinely contemplate greenfield technology builds. For most financial services companies, the need is to change everything while in flight, and fast, and do it without crashing. For many, the challenge is reinvention. It is about defining what is absolutely necessary, where true value lies and being prepared to discard everything else. That is a huge challenge to culture, strategic vision and courage at Board level.

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Contact us

Mark Leaver

UK Financial Services Technology Leader, PwC United Kingdom

Tel: +44 (0)7711 495043

Robin McBurnie

Partner, PwC United Kingdom

Tel: +44 (0)7595 850026

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