This paper discusses three major drivers of change which modernization can help to address: (1) the need for increased business and IT agility, (2) the mandate to reduce the cost of IT across the institution, and (3) the requirement to comply with new and increasing regulations expected to emerge over the next several years. Through systems and applications modernization, IT departments can deliver:
- Important cost reductions on day-to-day operations
- Shortened time to market for new products and services
- A self-funded path to new technical capabilities and business agility
- Recognition of IT’s strategic value across the financial institution
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