As banks look to do upgrades of their software, either an upgrade from one version to the next or a like for like replacement, some of them don’t take the time to stop and think about the broader business and organisational change. What do you think are some of the key factors that need to be considered and where should they invest their efforts?
Andrew: The risk of starting a program from a technology lens is you’re potentially walking around with a hammer looking for a nail to hit and potentially what you don’t need to do is bang a nail in; you need to change something else. The importance of starting from a customer lens and looking in from a customer journey is so fundamentally important because you’re going to really truly understand what is the problem you’re going to try and solve. And that in turn is going to lead to a number of questions around your organisation. As you move into a digital experience, you’re going to 24 x 7, you need to be up and available all the time, drives fundamental changes in operating model, drives fundamental change in process and all of that results in the organisation shifting from how they operate today to how they operate tomorrow and technology is just simply an enabler of that outcome as opposed to the determination of the outcome.
Janine Woodside: If I think about banking generally, significant complexity and often legacy technology, and with that comes risk and resilience issues in often oversubscribed change portfolios. Often, that can lead to possibly the wrong decisions in terms of replacing like with like, in those oversubscribed portfolios. The way that I sort of like to think about this is really starting with that in mind, ensuring that the organisation has got a really clear business strategy and then having a look at the technology that underpins that strategy and is the technology supporting the strategy. Stepping back from that, then having a sort of a really interlinked technology roadmap that enables the strategy, allows prioritisation and trade-off decisions, I think is really fundamental, rather than adding new systems, technology or the next new shining toy.
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