Best Business Podcast (Gold), British Podcast Awards 2023 How do you build a fully electric motorcycle with no compromises on performance? How can we truly experience what the virtual world feels like? What does it take to design the first commercially available flying car? And how do you build a lightsaber? These are some of the questions this podcast answers as we share the moments where digital transforms physical, and meet the brilliant minds behind some of the most innovative products a ...
…
continue reading
Content provided by Tearsheet Studios. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Tearsheet Studios or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Player FM - Podcast App
Go offline with the Player FM app!
Go offline with the Player FM app!
Banks can't duct tape their way out of legacy system failures. Core modernization is a business imperative
MP3•Episode home
Manage episode 499785360 series 3025
Content provided by Tearsheet Studios. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Tearsheet Studios or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Banking executives face a familiar dilemma: decades-old core systems technically constrain innovation while replacement costs can reach hundreds of millions of dollars and take years to implement. Meanwhile, fintechs launch new products in weeks while traditional banks remain trapped in months-long approval cycles. The challenge extends beyond technology. "Most banks duct-tape capabilities onto what they already have, and eventually they break," explains Ritesh Rihani, Vice President of Enterprise Banking at Galileo. "You've seen the number of outages we've had in the industry recently. That's all happening because they put duct tape upon duct tape." The pressure to modernize comes from multiple directions. Customer expectations have evolved toward integrated experiences and ease of use and operational risks multiply as the pool of COBOL programmers shrinks through retirement. Regulatory compliance becomes increasingly difficult with manual processes and fragmented systems. This podcast explores five critical dimensions of core modernization: balancing costs with competitive necessity, understanding operational and regulatory risks, implementing incremental transformation strategies, enabling product innovation, and unlocking the future potential of modern banking architecture.
…
continue reading
584 episodes
MP3•Episode home
Manage episode 499785360 series 3025
Content provided by Tearsheet Studios. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Tearsheet Studios or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Banking executives face a familiar dilemma: decades-old core systems technically constrain innovation while replacement costs can reach hundreds of millions of dollars and take years to implement. Meanwhile, fintechs launch new products in weeks while traditional banks remain trapped in months-long approval cycles. The challenge extends beyond technology. "Most banks duct-tape capabilities onto what they already have, and eventually they break," explains Ritesh Rihani, Vice President of Enterprise Banking at Galileo. "You've seen the number of outages we've had in the industry recently. That's all happening because they put duct tape upon duct tape." The pressure to modernize comes from multiple directions. Customer expectations have evolved toward integrated experiences and ease of use and operational risks multiply as the pool of COBOL programmers shrinks through retirement. Regulatory compliance becomes increasingly difficult with manual processes and fragmented systems. This podcast explores five critical dimensions of core modernization: balancing costs with competitive necessity, understanding operational and regulatory risks, implementing incremental transformation strategies, enabling product innovation, and unlocking the future potential of modern banking architecture.
…
continue reading
584 episodes
All episodes
×Welcome to Player FM!
Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.