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is that the majority of an in-house full stack developer ’ s time is taken up with maintenance of these systems – not building new applications for the customer facing environment . Digital transformation is a must to overcome the problem of legacy , but for banks this process must be a gradual evolution . Ripping and replacing these systems , many of which are mission critical , is not an option .
Consider the main systems a bank needs to operate effectively . They can
be broken down into three areas :
• Systems of record These are the back-office core systems . Software here is typically developed using a linear , or ‘ waterfall ’ approach . It ’ s OK , as well as necessary , for developments and changes to these systems to move at a slower speed .
• Systems of differentiation These include decision-making , pricing , analytics and risk management tools in the middle office . These will
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