September 20156Copyright © 2015 Valley Media Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.SEPTEMBER - 2015Mailing AddressValley Media Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 SEPTEMBER - 2015, volume 01-07 Published by Valley Media Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com Editorial StaffSalesT:510.556.2627CORE BANKING SPECIALAaron Pierce Alex D'SouzaAnkit Tripathi Alwyn Thomasalwyn@bankingciooutlook.comVisualizerMatt RyderManaging EditorJames RobertsonAva GarciaMichelle Wilson Sarah FernandesVian IsaacWith the recent upsurge in the digitization, the banking sector is undergoing a massive transformation, changing the industry's current shape and operating models. Financial institutions are re-engineering their core systems, and implementing business intelligence tools to keep up with this digital transformation.With the new core banking systems in place, financial institutions are migrating to real-time processing models for faster transactions, improved customer experience, increased back-office efficiency and analytics capabilities, along with round the clock services. Linking multiple branches and extending the reach of banking services to customers, even on their handheld devices, these systems enable banks to build stronger ties with customers and gain insights into their needs and preferences. With real-time banking, financial organizations now get a broader view of the demographics, purchasing behavior, and the transactions--helping them deliver a blended multichannel experience that will enhance the relationships.Without a doubt, modern core banking systems have helped banks speed up the operations and become more customer friendly. However, replacing the core banking system is akin to a heart transplant for banks. Financial institutions are still hesitant to change legacy core banking systems due to the difficulties while transitioning and high failure rates. In such a scenario, componentization of banking architectures coupled with standards like BIAN are going to act as key drivers for faster implementation of core banking systems and help them achieve greater value. On that note, we present to you a special edition on Core Banking Technology. We are featuring 10 Most Promising Core Banking Solution Providers, listing the best vendors and consultants that provide key technology solutions and services to banking industry. We hope this information will help you optimize your technology investments and deploy new capabilities.EditorialRe-Engineering the Banking ProcessesJames RobertsonManaging Editor editor@bankingciooutlook.com
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