The pandemic has sped up digital transformation as organizations fundamentally change their business models or product and service offerings and optimize existing activities. Pressure is on CFOs to prioritize and fund digital strategies, but many of the underlying initiatives are iterative and uncertain, and tend to be undervalued by traditional project-based funding models. Given this, you may need to take lessons learned from IT peers and shift instead to a product-based view.

Core banking systems have been a blessing and a breath of fresh air for customers who were tired of transactions taking days to complete between branches of the same bank. With core banking systems, technology has moved from being a support system and business enabler to a driving force in the banking industry.