Today's competitive environment demands the ultimate combination of sophisticated core technology platforms that not only deliver increased efficiency, but provide the flexibility for the business to deliver new products and services to customers.

While many acknowledge the need for core replacement or transformation projects, short-term budget restrictions and the need for more immediate business benefits mean that these invariably long-term commitments are having to be tackled in tandem with more immediate needs.

However, the combination of projects that address improved Business Process Management, more intelligent use of data and more sophisticated open architecture connectivity can start to address both core IT and business needs at the same time.

The key to the successful implementation of what can appear to be complex and challenging IT commitments to change is planning. For this to work, there needs to be synchronized alignment between the business and IT, as well as thorough project development timelines and deliverable milestones.

It can then be possible for a modern financial institution to maximize existing core assets, transform both their efficiency and product deliverables, while at the same time meeting the needs of the business to deliver more competitive products and services.

"In most developed economies, while core banking systems are creaking badly, many banks have adopted an attitude of 'if it ain't broke don't fix it'. But that is increasingly not an option."

Peter Farley
Managing Director
IDC Financial Insights

"Business process modelling has taken centre stage for a variety of reasons - compliance, efficiency, standardisation and automation. But implementing this in an enterprise is a different game altogether."

Vijay Alexander
Managing Principal
i-flex Consulting

Join IDC-Financial Insights and Oracle-I-Flex for the opportunity to participate in high level discussions with your peers in the industry as to how these challenges can be both identified and overcome. You will have the opportunity to examine:

• ¦ How to align technology with business process management in improve operational effectiveness
• ¦ How you can both maximize your existing capabilities, while seamlessly adding on new functionality and improving efficiency
• ¦ Whether any renovation should go hand-in-hand with an outsourcing strategy of non-core business practices

We look forward to you joining us with a select group of leading experts from the financial arena and industry analysts.

"There are a number of metaphors IT executives use when referring to core banking replacement: changing an airplane engine while flying, open heart surgery, etc. The risks associated with core banking renewal efforts are indeed daunting, and can be enough of a deterrent for companies to put such initiatives on ice, despite the potential business benefits."

Maximo Diez
Senior Director
Oracle FSGBU

For more information please telephone: +31 (0)20 408 95 33 or email conferencesbenelux@idc.com