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Introduction

The need for corporate banks to replace their ageing core payment processing systems has finally become too great to ignore – and the bigger the bank, the bigger the need, according to data from Ovum.

Highlights

  • Ovum’s 2017 ICT Enterprise Insight study shows that 92% of corporate banks with revenue greater than $20bn will need to replace or renew their platforms within three years, with 21% doing so in the current year.

Features and Benefits

  • The report examines the relationship between ageing system architectures and the urgency of the need for replacement.
  • Learn why some banks see an opportunity to repair their relationship with corporate customers.

Key questions answered

  • Why are corporate banks being affected by regulations aimed at retail banking?
  • What further challenges and opportunities will open banking bring to the corporate world?

Table of contents

Summary

  • Catalyst
  • Ovum view
  • Key messages

Payment systems need urgent upgrades

  • Significant renewal work planned at major banks
  • Ageing systems can no longer be shored up

New infrastructures are an opportunity for banks

  • Real-time payments are the basis of service transformation
  • Open banking will drive further improvements

The building blocks of banking are changing

  • The evolution of existing networks or a blockchain revolution?

Appendix

  • Further reading
  • Author

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