"Before the financial crisis, the high cost of legacy systems was not a key concern for management and investors as financial inefficiencies could be masked and rendered less important by robust income growth. In addition, banks could afford enough specialist staff to keep extending the lives of their systems and avoid any major mishaps. The time is now for banks across the globe to repair this, a move that is reinforced by a combination of structural factors — such as reregulation, heightened competition, more demanding customers and higher funding costs. These have reset profitability and exposed the inefficiencies of legacy IT platforms, something that must be rectified progressively if banks are to reposition themselves as modern, agile and forward thinking service providers."
- Ben Robinson, Temenos. 'The Business Case for Progressive Renovation', Bank Systems & Technology, December 2012.
Looking for a solution to these problems? Aiming at 24x7x365 operation or real time services? IFEX has the power to provide an extensible touchstone for modern core banking components.
By decoupling your internal systems with IFEX you can decrease hardware and legacy vendor overheads while increasing security through compartmentalization.
Because IFEX mandates a standards-based, message-oriented architecture, you can deploy application-level firewalls, business intelligence and anomaly detection systems with ease.
Join us and innovate!
"Banks are standing up and voting with their currency. Legacy systems clearly aren’t selling anymore; banks want a core banking system that mirrors their challenges and are stepping up their demands for change."
-- Don Free, Research Director, Gartner. 'Core Banking System Winners and Losers', Bank Systems & Technology, December 2012.