Core Banking Renewal in Canada: Understanding the Opportunity

This IDC study examines the prospects for core banking renewal in Canada over the next few years. It provides valuable insights, predictions, and guidance based on the extensive depth of Financial Insights' and IDC's considerable industry experience. The study answers the following questions:

• Why IDC feels that now is the time that major Canadian banks will finally embark on core banking renewal?
• What are the factors underlying the decisions to move now on core banking renewal?
• How valuable are core banking renewal projects likely to be for Canadian IT vendors?

"The major banks in Canada are now in an ideal position to start their core banking renewal projects," says Rob Burbach, senior analyst at Financial Insights' Canadian Financial Advisory Services. "We expect the spending in these projects to be some of the largest ever in Canadian history."