back to the main page

Tactical Initiatives Can Solve Banking's Integration Woes

Banks have been busy for decades trying to replace their legacy systems with strategic, enterprisewide replacements, but have had little success. Why is this so difficult?

A new article, "The Myth of the Mastermind", addresses some of the possible answers to this question by first examining the history of back-office automation. It then goes on to look at the era of strategic planning and enterprise architecture, focusing on the role of the chief architect.

The article contends that during this period, few strategic successes were achieved largely because the scale and complexity of the enterprisewide problems were too enormous for a single architect (the mastermind) to solve. Legacy systems became even more firmly entrenched, to the point where wholesale strategic replacement is now an impossible dream.

But is this so bad? According to the article, the answer is no. Today's tactically enriched legacy systems are basically doing the job except for one fundamental deficiency—integration. Unfortunately, integration is the cornerstone of tomorrow's risk management, customer, and accounting and compliance requirements.

The light at the end of the tunnel, according to the article, is to use tactical initiatives to achieve strategic objectives. These include getting outside help, buying off the shelf, focusing on the infrastructure, and knowing the customer.

Register to read the entire article on iflexsolutions.com.

back to the top

EIU: An Enterprise Approach to Bank Payments

Integrating the Last Mile

Oracle Financial Services Applications

Oracle Banking Applications

Oracle and i-flex