Many banks have implemented a modern suite of digital and mobile tools to enable clients and advisors to interact with their accounts, access planning tools, and execute transactions. A complex web of legacy and modern computing, as well as cloud and data center storage are utilized to provide a spectrum of functionality ranging from interactive mobile applications to monthly paper statement generation. This disjointed mix of technology platforms complicates any effort to consolidate or upgrade these banking systems, and firms are finding it harder to plan for this type of transformation.

Whether it is driven by a merger, acquisition, or strategic decision to upgrade a current system to meet the shifting needs of the business and clients, there are many critical factors underpinning a successful banking system conversion. 

1. Understand the true scope of the project 

2. Identify associated dependencies and resource requirements

3. Plan for contingencies

4. Establish clear workstreams within a unified plan  

5. Ensure clearly defined alignment and ownership across the organization

6. Focus on strong internal and external communications

Final Thoughts
System conversion programs are complex and require special attention to people, processes, and technology. Understanding and managing the scope, resources, program management, client impacts and staff training are all critical steps, both in advance of and throughout a technology transformation. 

At Capco we have extensive capabilities and experience in planning and executing banking system conversions. Please contact us to discuss how we can ensure your desired outcomes while minimizing impacts to your clients and operations.