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. 


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.

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.

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.


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.


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.

" 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

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?