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    <p>This newsletter explores the technological trends, the fintech space, and the latest news from Skaleet.&nbsp;</p>
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Text Content

Skaleet
   
 * Core Banking Platform
     
   * Core Banking Platform
   * Deployment Options
     
 * Clients
     
   * Universal Banks
   * Regulated Fintechs
     
 * Partners
     
   * Partnership Program
   * Our Partners
     
 * Insights
     
   * Articles
   * News
   * White Papers
     
 * Company
     
   * About Us
   * Career
     
 * Contact Us
   

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DEPLOYMENT OPTIONS.

Selecting the best approach for Core Banking modernization is a complex
strategic decision that requires financial institutions to assess current
capabilities, customer needs, and operational risks. We can help you determine
the approach that supports your transformation objectives. 

Request a Demo


CONTEXT.

Here are a few key areas in which legacy Core Banking Systems impede
performance: 

- Cost: A significant portion of IT spending within a financial institution is
dedicated to managing technical debt and maintaining legacy IT systems. 

- Time-to-Market: Monolithic architectures lead to multiple interdependencies
and bottlenecks, thereby limiting speed to market. 

- Personalization: Based on a product-oriented philosophy and data stored in
multiple Core Banking, they greatly limit their ability to offer personalized
experiences.

- Ecosystems: Current legacy IT system architectures often lack connectivity to
envision the integration of third-party technologies, hindering innovation
capability. 

Faced with these challenges, financial institutions make the modernization of
their Core Banking a priority to remain competitive and meet changing and
constant customer expectations.

How to choose your Core Banking Platform?


KEY FACTORS FOR CORE BANKING TRANSFORMATION.

   


 * EVOLUTION OF CUSTOMER EXPECTATIONS.
   
   Customers demand superior experiences, advanced personalization, quick
   execution, user-friendliness, and intelligent support during their daily
   interactions with financial institutions.


 * AGILITY AND TIME-TO-MARKET.
   
   Legacy and proprietary technologies, characterized by monolithic and poorly
   integrated architectures, significantly complicate each evolution and extend
   time-to-market, thus hindering rapid adaptation to customer, market, and
   regulatory expectations.


 * NEW TECHNOLOGICAL INNOVATIONS.
   
   Technological innovations such as artificial intelligence and other fintech
   advancements must now be part of an integrated platform to bring immediate
   benefits to financial institutions and their customers.


 * HEAVY DEPENDENCE ON RESOURCES.
   
   Legacy and proprietary technologies require human resources with specific
   skills that can become scarce over time, while retaining such personnel
   becomes even more imperative due to insufficient documentation of these
   systems.


 * TECHNICAL DEBT AND SIGNIFICANT COSTS.
   
   Legacy systems result in a very high Total Cost of Ownership (TCO). A large
   part of IT expenses is dedicated to maintaining operations, while only a
   small portion is allocated to innovation. 


 * OPENNESS AND COLLABORATION IN ECOSYSTEMS.
   
   Openness has become a necessity for Core Banking, both to comply with Open
   Banking requirements and to seize collaboration opportunities within
   ecosystems.


 * REGULATION.
   
   Legacy Core Banking systems can no longer cope with the scale and speed of
   regulatory and standard changes.


 * NEW MARKETS AND REVENUE DIVERSIFICATION.
   
   Constraints of legacy systems hinder the ability to unlock value in new
   markets and new sources of revenue.

   

Contact us


THE "BIG BANG".

Complete Replacement of Legacy Core Banking.

Financial institutions often choose this approach when they urgently need to
replace their legacy Core Banking due to obsolescence or regulatory constraints.
This requires an extensive data migration, and the benefits usually materialize
only after the end customers are migrated and the legacy IT systems are
decommissioned. This option eliminates the need to maintain two infrastructures
and opens up the Core Banking to front-end solutions with more modern
integration possibilities.

Big Bang Business Case


COEXISTENCE. 

Progressive Modernization.

This option involves maintaining the existing Core Banking system while
gradually reducing it as they build a modern architecture in parallel. As most
financial institutions have been in operation for three decades or more, with a
multitude of product customizations, using cloud-native Core Banking for all
products may prove challenging. In cases where product simplification is not
feasible, a new Core Banking platform in parallel is often necessary to address
these uncovered capabilities. Having both Core Banking in parallel will require
unique reconciliation processes for accounting and reporting. Due to evolving
regulatory reporting requirements, these efforts cannot be overlooked.

Coexistence Business Case


"GREENFIELD"

A completely new banking proposition built on a new technological stack.

Launching a completely new customer proposition and customer experience, focused
on customer acquisition through innovation, while simultaneously developing a
Core Banking Platform that supports this new customer proposition. This approach
is often considered less costly than other options and safer because existing
customers are not exposed until the proposition and technology have been
validated. While many financial institutions are exploring next-generation Core
Banking Platforms, this option probably offers the best way to achieve maximum
value.

Greenfield Business Case

> " By leveraging Skaleet's Core Banking Platform, we were able to launch our
> digital bank, Masrvi, in record time (4 months). We will be able to rapidly
> grow our customers and offer a full range of banking products.  "

Moulay Abbas - Chairman - BMCI


OUR NEWS.

   

 * July 11, 2023
   
   WHEN MODERNIZING CORE BANKING BECOMES VITAL...
   
   The financial sector faces unprecedented challenges that force
   institutions...
   
   Read the article

 * January 24, 2023
   
   KEY CONSIDERATIONS FOR SUCCESSFULLY MIGRATING YOUR CORE BANKING 💡
   
   Financial institutions need to rethink migrating their Core Banking Systems.
   
   Read the article

 * November 22, 2022
   
   CORE BANKING SYSTEMS VS. CORE BANKING PLATFORMS: WHY MOVE TO A
   NEXT-GENERATION SOLUTION? 💡
   
   What is the difference between Core Banking Systems and Core Banking
   Platforms?
   
   Read the article
   

Watch all our news


CONTACT US.

Skaleet, your technology partner to help you quickly launch new financial
services. Would you like to learn more about Skaleet and its solution?

Contact us


LET'S KEEP IN TOUCH.

Subscribe to our Newsletter.

E-mail *


Can we send you some e-mails?

Yes, I would like to receive e-mails from Skaleet.
Feel free to subscribe
   


 * CORE BANKING PLATFORM
   
     
   * Core Banking Platform
   * Deployment Options
     


 * CLIENTS
   
     
   * Universal Banks
   * Regulated Fintechs
     


 * PARTNERS
   
     
   * Partnership Program
   * Our Partners
     


 * INSIGHTS
   
     
   * Articles
   * News
   * White Papers
     


 * COMPANY
   
     
   * About Us
   * Career
     


 * CONTACT US
   
     
   * Contact Us
     
   


 * SOCIAL MEDIA
   
   *   
     * LinkedIn Skaleet
     * Twitter Skaleet
     * Youtube Skaleet
     * Medium Skaleet
       

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SUBSCRIBE TO OUR NEWSLETTER.

This newsletter explores the technological trends, the fintech space, and the
latest news from Skaleet. 

E-mail *


Can we send you some e-mails?

Yes, I would like to receive e-mails from Skaleet.
Subscribe

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