Virtual StrongBox, Inc.
It’s a sad fact, but the financial industry has a history of being slow to adapt to new technology. While many banks have spruced up their branches with customer Wi-Fi bars and touch-screen banking stations, most still use legacy core systems. But beyond the cost, core vendors, themselves, haven’t been very responsive to changing demands, so financial institutions mostly follow a “chewing-gum-and-bailing-wire” approach – tacking digital apps onto existing systems designed for physical branches.
Who’s in charge now?
The add-on approach may have worked when banks’ only competition was each other, and it was hard for […]