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"eventually eliminating the existing core..."

That's it!

It's about reshaping the way to process financial activities internally, ELIMINATING cumbersome backend/office processes, product silos, ETLs/DWs, by deploying a single source of 'knowledge' for all operational and compliance purposes.

"Reinvent Your Processes" - That's it!

joao.bohner@gmail.com

Excellent article, Vishwanath!

No matter if "Is it Banking or Process or Technology", Banking was, is and will be:

"Banking comes down to making money from others" money."

"adopting fully streamlined, end-to-end automated processes is the only way banks will be able to grow and thrive in 2021 and for years to come."
Fully agree!
And THAT implies in Coreless Banking System!

How about "Coreless Banking System"?

How to contact?

Great partnership!
I'd like to have a contact in the partnership to discuss the development of financial technology innovation, to disrupt the current 'status quo' of financial business operations.
Thanks in advance.
joao.bohner@gmail.com

Dear Thomas,

In the Holistic Corporate Architecture "The Bank of the Future" all accounting and financial updates are made 'on the fly' on any financial activity - the continuous close - as you call it.

Then you have the ledgers as well as the financial data updated online, real time and with a 100% guarantee on accuracy.

This feat was achieved thanks to a deep reshape in the Architecture of Business as Usual, embedding accounting in financial activities and creating the 'shift to business now'.

Obviously the functions of CFOs as well as the functions of accounting teams will be profoundly modified.

joao.bohner@gmail.com

Great, Andrew!

Andrew, this the point:


         "But many of these digital bank projects are still run by incumbent banks, with the same mindset and an absence of new thinking."

And the new thinking is not 'think-out-of-the-box', but 'forget-the-box'!

The 'new thinking' to make a Paradigm Shift should determine the 'elimination' of the backoffice Core Systems and all the Silos. (the old box)

Nowadays the available Technology allows to handle the Financial Business fully STP, without batch processes and Silos.

To achieve this goal, an Enterprise Financial Business Architecture has to be constructed and implemented.

BTW I've built "The Bank of the Future" Architecture.
I'd like to discuss the BotF Architecture with people that think like you, Andre, to, eventually, make the Disruption to a digital future.

joao.bohner@gmail.com