Our survey covered 27 banks and 2 solution providers to try and understand what current attitudes are to investment in the transformation of the core banking platforms used across the industry.   Some of the findings backed up our expectations, but as many surprised us.  We found an industry that is conflicted about the way forward. Most of the banking leaders we interviewed neither embraced fundamental transformation of core-banking systems as a strategy nor saw the need for it.  They are clear about where they want to get to and the broad direction of their journey, but find that the only practical way to get there is through incremental steps rather than wholesale transformation.  In line with our day to day experience with clients none of them are contemplating the complete replacement of core-banking systems. Typically we found that banks are engaged on in-year investments (investments for which payback is expected in the same year) for highly-targeted modernisation initiatives.  These are driven mostly by front-office digitisation and regulatory requirements, but also by cost reduction and operational improvement. Budgets are tight, adequate for incremental improvement but don’t address the long term goals

http://insights-on-business.com/banking/attitudes-to-core-banking-transformation-in-europe-survey-results-published/