Best Practices: Core Banking in EMEA - 2008 Deals

This Financial Insights report tracks the number of new core banking deals for 2008 in EMEA, and provides insight into this core banking environment.

The EMEA marketplace for traditional core banking systems is changing. The previous trend for more packaged and complete banking systems and capabilities appropriate for tier 1 and tier 4 institutions has reversed in favor of a more modular and component-based replacement cycle. The risks of traditional rip and replace have been well documented in too many organizations, decreasing the appetite for this style of project.

"Going forward, there will be an increasing emphasis on a managed portfolio of capabilities under a proven service-oriented architecture (SOA) or similar framework. To this end, there is a shift toward improving the front end and the integration 'at the glass' over retooling the back end in one large project," said Trevor LaFleche, senior research analyst, Financial Insights, EMEA.

"From a delivery point of view, software as a service (SaaS) is likely to be the most fundamental change in the Western European market, as these hosted solutions will grow in maturity across the region, from greenfield operation requirements to multiuser agreements," said Rachel Hunt, EMEA research director, Banking.