Latest / Tearsheet Podcast: Exploring Financial Services Together
Banks can't duct tape their way out of legacy system failures. Core modernization is a business imperative
Banking executives face a familiar dilemma: decades-old core systems technically constrain innovation while replacement costs can reach hundreds of millions of dollars and take years to implement. Meanwhile, fintechs launch new products in weeks while traditional banks remain trapped in months-long approval cycles. The challenge extends beyond technology. "Most banks duct-tape capabilities onto what they already have, and eventually they break," explains Ritesh Rihani, Vice President of Enterprise Banking at Galileo. "You've seen the number of outages we've had in the industry recently…
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