LEVERIS
16 that experience and over that time , we really understood what a banking platform was - all the existing peculiarities , legacy issues and complexities .
“ Each time you do an implementation of that kind , the result is always suboptimal ,” Fennelly continues . “ We reached the stage where we thought : ‘ if we had the freedom to do it again , how would we do so differently and in a way that eradicated all of those issues ?’. Legacy systems have performed well - they ’ ve been robust and resilient , and stood the test of time with no major issues until about five years ago . The rise of fintech really changed things . It started disintermediating , and showing banks that innovative technology can be used to do things faster and better , to operate in real-time and provide greater value to the customer .”
The latter , Fennelly notes , is becoming increasingly important as a driver for change . Customers want more control over their finances , as well as the convenience and value-added
AUGUST 2020