TECH BUYER Feb 2022 - IDC Perspective - Doc # AP48657922

The Rise of Multicore: Core Banking System Transformation and the Many Ways to Be Digital

By:

Michael Araneta, Steve Shipley (EXT)
Table of Contents

Executive Snapshot

Figure: Executive Snapshot: A Multicore Approach for Successfully Implementing Digital Core Banking

Situation Overview

Multicore Model

Is Multicore Right for Your Bank?

Overview

Figure: Multicore Conceptual Model

Figure: Multicore High-Level Architecture Model

Figure: The Four Roles and Their Goals Within the Multicore Model

Main Legacy Core

Specialty Legacy Core

Edge Digital Core

Parallel Digital Core

The Path to Achieving Digital Core Banking

Seven Project Approaches to Digital Core

Big Bang (Non-Multicore)

Figure: Use Cases and Required Capabilities for Big Bang Migration

Edge Multicore

Figure: Use Cases for Separate Digital Edge Core Banking to Complete a Bank Divestiture
Channel and Engagement Focus
Figure: Digital Data Quality Characteristics Spectrum
Figure: Use Cases and Required Capabilities for Delivering Channel and Engagement Focus Project Types
Figure: Digital Core Significantly Reduces Integration Effort
Future Process Masters
Figure: Use Cases and Required Capabilities for Future Process Master Project Types
Cost-Efficiency Seekers
Figure: Use Cases and Required Capabilities for Delivering Cost-Efficiency Seeker Project Types

Parallel Digital Core

New Digital Banks
Figure: Migrating the Legacy Bank into the Digital Bank Over Time
Figure: Use Cases and Required Capabilities for Delivering New Digital Bank Project Types
Ambitious Overhauls
Figure: A Comparison of the Cost of Failure and the Size of Requirement Gaps
Figure: Use Cases and Required Capabilities for Delivering Ambitious Overhaul Project Types
Iterative Replacements
Figure: Use Cases and Required Capabilities for Delivering Iterative Replacement Project Types
Figure: Example of a Hybrid Digital Core Banking Implementation Plan

Guidelines for Implementing Digital Core

Figure: Typical Durations for Parallel Digital Core Banking Project Types

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Synopsis

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