Bringing banking core capabilities to the cloud

At the center of every bank’s operation is its mainframe. These computing behemoths power all of a bank’s core processes, allowing institutions to function day to day. But mainframes the world over are facing some challenges. They’re becoming difficult to maintain with the talent pool of specialists qualified to keep them operational dwindling each year. Plus, the yearly cost of running them is high and likely to keep rising. Banks need to upgrade their cores to a more sustainable and cost-effective technology - and the solution everyone is turning to is the cloud. In this season of Financial Futures, we’re examining a new generation of intelligent tools that are making financial services fit for modern institutions and their customers. And in today’s episode, we’ll learn how banks are taking on the task of migrating their cores from the mainframe to the cloud. We’ll be joined by banking cloud leader for North America at Accenture, Nicole Lanza, and division executive of modern banking platform business at FIS, Rick Foresta, as we find out why banks are choosing to move their cores to the cloud and how they’re de-risking the transition. We’ll also ask: How important is it for banks to move their cores to the cloud? What are the benefits of having a cloud-native core? Should banks opt for a public, private, or hybrid cloud model? What are the risks involved in migrating banking cores? How should banks approach the task? What does having a cloud-native core look like?