When Will the Watched Pot Start to Boil?: U.S. Core Banking Survey of Bank Executives

This Financial Insights report summarizes key findings from a Financial Insights Web survey regarding the short-term future of existing core banking systems. Core banking replacement is heating up across the globe - except in the United States. Financial Insights surveyed financial institution executives to understand why U.S. banks are hesitant to transforming core, and when - or if - they plan to do so. Financial Insights found that while 23% of banks plan on replacing core banking systems in the next three years, a full 60% plan to continue maintaining and enhancing existing core systems.

According to Karen Massey, senior analyst, Consumer Banking and Credit, "Many banks we speak with say they plan to renew existing agreements for the short term, buying them time to evaluate three things - internal requirements, domestic and international core vendor offerings, and successful peer core transformations."